Assailants Extort $60k Worth of Bitcoin from South African Crypto Trader

A Bitcoin trader from South Africa has recently been attacked and tortured by a group of unidentified assailants in an attempt to extort Bitcoin, local news outlet Soweto Urban reported December 2.

According to the report, the assault took place on November 16 after a man named Andrew met with someone he came across on Facebook who lured him into holding a presentation on Bitcoin in Ntuli Street in Meadowlands Zone Five.

The Bitcoin trader alleged that he was immediately drugged by the suspects as soon as he entered the premises, claiming that the assailants gagged him with a “drug-infused” cloth, causing him to lose consciousness. By the time he woke up, the victim claimed to have been transferred to a different location.

Police reports indicated that the victim was stripped and tortured by the suspects with a hot iron, threatening to kill him if he did not turn over his Bitcoin passwords. The victim, fearing for his life, was forced to comply with the attackers’ demands. After transferring roughly $60,000 worth of Bitcoin to the assailant’s account, the victim was blindfolded and left about 30km away from the scene of the crime.

On top of the extorted digital asset, the attackers also stole roughly $200, two smartphones, and two laptops.

The victim is currently recovering in the Alberton Union Hospital’s intensive care unit while local police investigate the crime.

This would not be the first time brutal tactics have been employed by criminals to extort digital assets. Per a previous Coinwire report published in November, a 27-year-old man previously filed charges of second-degree burglary against a group of young professionals who allegedly raided his luxury apartment, coercing him to hand over his cryptocurrency account login information.