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Author Topic: CCTV: HK billionaire kidnapped and ransom asked to be paid in bitcoin  (Read 1747 times)
hl5460 (OP)
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October 29, 2015, 05:36:11 AM
 #1




http://8btc.com/thread-24564-1-1.html

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'I THOUGHT I WAS GOING TO DIE'

Amy Nip

Thursday, October 29, 2015

The mastermind behind the sensational kidnapping of Hong Kong tycoon Wong Kwan is in the SAR, say Taiwan police, who have asked the Organized Crime and Triad Bureau to help track him down.
The kidnappers had threatened to dig out the eyeballs or chop off the legs of the Pearl Oriental Oil chairman -also known as Wong Yuk-kwan if his family did not pay a HK$70 million ransom in bitcoins, said Taiwanese police, who rescued the 68-year-old on Tuesday night.

The accused fraudster was found in an abandoned house in Kouhu township, Yunlin county, in western Taiwan, after 38 days in captivity.

"I thought I was going to die" were his first words after the rescue.

He was blindfolded and his ankles were cuffed when police found him. He was wearing a white shirt and shorts and sitting on a mattress.

Wong was frightened when officers stormed in but calmed down when told that things would be okay.

Officers initially thought they had rescued the wrong man as he had sunken cheeks that had been burned by cigarettes and looked different to photographs.

He told his rescuers: "You guys are finally here. I am Wong Kwan. Please save me!"

The kidnappers had threatened to harm Wong as his family had paid only HK$13 million by the ransom deadline on Friday, putting pressure on police to take action.

Fifteen Taiwanese, including local triad members and a village chief, have been arrested. But police suspect a cross-border syndicate is run from the mainland, Hong Kong and Taiwan, and that the main culprits are still at large.

Cai Wen-li of the notorious United Bamboo Gang is suspected to be one of the leaders of the operation, responsible for directing the kidnap gang in Taiwan. Another two who allegedly played major roles are Cai Guang- zhong, who commuted between Hong Kong and Taiwan, and village chief Cai Mao-dian.

Wong was charged in Hong Kong with fraud two years ago. He was granted HK$500 million bail so he could seek medical treatment in Taiwan.

He was abducted by two men in a vehicle on September 20.

Days later, Wong's wife received an overseas call that claimed Wong had yet to settle a HK$600 million business deal. It did not mention the kidnapping.

Later, the kidnappers sent e-mails to Wong's company asking for the ransom.

The wife later received more e-mails asking for HK$70 million and three videos that showed Wong asking the family to pay as soon as possible and not to call police.

Twelve arrests were made in Taipei, Taoyuan and Yunlin municipalities on Monday.

But the billionaire had been transferred to another location. It was not until Tuesday night that police located him in an abandoned building that used to be a karaoke bar. Wong was sent to hospital after the rescue.

Wong's company, in a statement to the Hong Kong stock exchange, said it was contacted by him yesterday.

Even though he was having a medical examination, the chairman was able to resume his role with the company.

Those arrested have denied kidnapping Wong, saying he owed people money and they were helping to "settle a financial dispute."

A Hong Kong police spokesman said the force is maintaining close liaison and collaborating with overseas law enforcement agencies.

Wong was supposed to appear in the High Court yesterday for variation of a restraint order. The hearing was adjourned to December 9.

source: http://www.thestandard.com.hk/news_detail.asp?pp_cat=31&art_id=162657&sid=45464435&con_type=3

7788bitcoin
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October 29, 2015, 08:26:26 AM
 #2

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The kidnappers had threatened to harm Wong as his family had paid only HK$13 million by the ransom deadline on Friday, putting pressure on police to take action.

So the family did made payment which was about 13-14K in bitcoin. I wonder how they obtained the bitcoin from. Maybe this was the reason that we are seeing a small pump tat the moment...
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October 29, 2015, 10:04:49 AM
 #3

holy shit i got this news at the morning!
this is shocking as shit.  Sad

out of ability to use the signature, i want a new ban strike policy that will fade the strike after 90~120 days of the ban and not to be traced back, like google | email me for anything urgent, message will possibly not be instantly responded
i am not really active for some reason
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October 29, 2015, 10:15:40 AM
 #4

This is why you should not flaunt your wealth, if you have any. By doing so you essentially paint a target on your back. Maybe not for a kidnapping of this nature but for various other crimes i.e. housebreaking etc..

People like to speak about the 'rich' friends they have and or people they know and you never know who is party to those conversations when your name might come up. So best to fly under the radar and keep your financial information to yourself as far as possible.
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October 29, 2015, 10:19:07 AM
 #5

Quote
The kidnappers had threatened to harm Wong as his family had paid only HK$13 million by the ransom deadline on Friday, putting pressure on police to take action.

So the family did made payment which was about 13-14K in bitcoin. I wonder how they obtained the bitcoin from. Maybe this was the reason that we are seeing a small pump tat the moment...

Yeah the figures don't seem to sink in my head until now.  Maybe they have gotten it as an off-market deal. It's worrying that more and more criminals choose to use bitcoin in ransom and other illegal activities. Sad

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tobacco123
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October 29, 2015, 10:24:19 AM
 #6

Another bad publication of bitcoin... sigh...

unamis76
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October 29, 2015, 10:29:19 AM
 #7

I'm also questioning myself if this has anything to do with the surge in price... Although the money might have been paid in fiat, and it might not be too much to have risen the volume like it did. Anyone with exchange statics proving this?

As for the kidnap itself, well... Possibly some tricky business going on there, but that's not Bitcoin related Smiley
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October 29, 2015, 10:29:22 AM
 #8

Another bad publication of bitcoin... sigh...

I don't understand your comment or your reasoning? What exactly can we do about it? What exactly could  Internet makers and early users of the Internet do when Internet was being used for bad stuff at its inception and even today.

Every thing that gets created in this world, every thing has its good and bad sides. If we concentrated only on bad sides, where we would be? Yes planes do crash! Are they bad because of this, no! Should we stop using them because of this, no! Have they facilitated our lives and improved them, of course!
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October 29, 2015, 10:30:21 AM
 #9

Another bad publication of bitcoin... sigh...

people are adult enough to undertsand that this has nothing to do with bitcoin, and it's just one random crazy guy that want a quick buy, if they cannot

then we don't need their help to sustain bitcoin in the long terms
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October 29, 2015, 02:07:32 PM
 #10

Another bad publication of bitcoin... sigh...

This is nonsense. Do you know how many kidnappers had been in fiat over the last several decades?! Or where millions of dollars had to be wire transferred to offshore bank accounts which had been hold by dubious shell companies where nobody knows who's the person behind that?!
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October 29, 2015, 03:31:59 PM
 #11

These guys watch too much movies... It would be better for them to demand this in international wire transfers to offshore bank accounts or to take this in smaller quantities in

many different locations. They are after all linked to Triad gangs and can easily force someone to do the pickups for them and have zero chance of being captured.

Bitcoin is absolutely the worst way to pay ransom demands... if they want to convert it to fiat to fund their other operations. Crazy stuff.... and nowhere close to the best

option for this kind of thing.  Roll Eyes

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October 29, 2015, 06:27:12 PM
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I just have one thing to say: LOL!
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October 29, 2015, 07:09:04 PM
 #13

This is why you should not flaunt your wealth, if you have any. By doing so you essentially paint a target on your back. Maybe not for a kidnapping of this nature but for various other crimes i.e. housebreaking etc..

People like to speak about the 'rich' friends they have and or people they know and you never know who is party to those conversations when your name might come up. So best to fly under the radar and keep your financial information to yourself as far as possible.


Indeed, I don't have these problems because im yet another 9-5 brick in the wall but if I was rich I would never flaunt it. I also don't recommend saying that you have any bitcoins to be honest.. you never know how high Bitcoin can go. If it goes to 100K or something then people may remember you once said "I have X Bitcoin" and they will know that now you are almost or a millionaire.
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October 29, 2015, 07:13:17 PM
 #14

The billionaire made his money from similar triad activities and I find it hard to believe that this may be as black and white as it seems.
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October 29, 2015, 07:14:45 PM
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I can see how this is not very good news for Bitcoin's public image, but it truly has nothing to do with Bitcoin. It could have happened with cash, etc...

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October 29, 2015, 07:20:12 PM
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Why do they pick bitcoin vs a pile of cash isn't it more likely they will get traced via bitcoin.  Address now linked to them forever with cash you could slowly filter it out into circulation.
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October 29, 2015, 08:35:03 PM
Last edit: January 05, 2016, 05:44:18 PM by XCASH
 #17

Quote
The kidnappers had threatened to harm Wong as his family had paid only HK$13 million by the ransom deadline on Friday, putting pressure on police to take action.

So the family did made payment which was about 13-14K in bitcoin. I wonder how they obtained the bitcoin from. Maybe this was the reason that we are seeing a small pump tat the moment...

That's the first story I read that says Wong's family paid the gang some Bitcoins. It's highly probable they brought them from Chinese Bitcoin exchanges, and it could have helped pump the price, especially if Wong's family brought more Bitcoins as a safeguard in case the police raid didn't find Wong when they stormed the house.
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October 29, 2015, 09:12:16 PM
 #18

They wanted to do something original, they wanted to pump Bitcoin, so if they asked for about 30K now BTC would be probably like 370?
Oh well, bad guys, you have been bad guys to kidnap someone only to become bitcoin rich!
I disapprove their actions in all the possible ways... they could have worked to earn them honestly and look what they did.
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October 29, 2015, 10:07:35 PM
 #19

I hope this won't start an epidemic of bitcoin kidnappings... that wouldn't be a thing we'd want to be connected with.

The only thing that's worrysome is obviously the media and how they will attach bitcoin to crime and how it makes it easier, etc, when cash has been doing that for the last centuries.
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October 29, 2015, 10:09:33 PM
 #20

This surely doesn't help improve the image of bitcoin, surely the kidnappers studied the case, sad to see they were successful. Even if they get caught, it likely wouldn't be possible the funds as it's so easy to launder bitcoin.

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