He faked his kidnapping to rake in over $1,000,000 worth of bitcoins
He faked his kidnapping to rake in over $1,000,000 worth of bitcoins He faked his kidnapping to rake in over $1,000,000 worth of bitcoins

Venezuela’s largest national police agency is searching for a 23-year-old man who allegedly staged his own kidnapping to steal $1.15 million worth of bitcoin.

According to authorities

, Andrés Jesús Dos Santos Hernández told his victims that their funds had been stolen.

He concocted a fictional story about his captors forcing him to move his assets from Binance, the largest cryptocurrency exchange

, to numerous external addresses. It was behind just such a facade that he was to hide his fraud. Andrés’ whereabouts remain unknown so far.

Kidnappings with bitcoin ransom in the background are not the first time

Earlier

this month, Venezuelan merchant Gustavo Torres González was killed after his family members failed to pay the 0.5 BTC ransom demanded by the victim’s kidnappers

.

A man named Mark Cheng was kidnapped in Thailand last January and tortured with a ransom demand of close to $1 million in BTC. As reported by Asian media at the time

, after handing over the $46,000 in BTC, Cheng allegedly made a daring escape. This occurred as the kidnappers prepared to fire a shot to the back of his head.

In late 2017, the director of cryptocurrency exchange Exmo, Pavel Lerner, was kidnapped in Ukraine. Police findings indicated that the victim was forcibly dragged by masked perpetrators into a black Mercedes-Benz car.

Fortunately, Lerner was freed. He did not suffer any injuries, although he remained in severe shock for an extended period of time. The hostage was released after a ransom of over $1 million in BTC was paid. As Financial Time

reported citing a statement by Anton Gerashchenko, an adviser to the Ukrainian interior minister at the time.

He was kidnapped by an armed group in order to extort bitcoin. We have operational information that he paid bitcoins worth over $1 million.

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