Kidnappers arrested after demanding a $660,000 USDT ransom

Two kidnappers in Hong Kong demanded a stablecoin ransom before their arrest, raising concerns about crypto-related crimes and safety.

The unusual and disturbing kidnapping occurred in Tseung Kwan O, Hong Kong, where criminals demanded a cryptocurrency ransom for a three-year-old boy. The child was abducted on July 3 while shopping with his mother.

According to local media reports, the criminals demanded a ransom of 660,000 USDT from the parents for the release of the boy through the messaging app Telegram.

The abduction, captured on CCTV, showed the toddler being taken in broad daylight, his cries muffled with a handkerchief.