According to the latest report by Caixin, six Malaysian nationals face serious charges for allegedly kidnapping a Chinese citizen and demanding a ransom in crypto, or USDT specifically. As per the details, the incident occurred on July 11.
Malaysian nationals demanded 1 million USDT
The accused, ranging in age from 25 to 29 and including a married couple, allegedly abducted their victim at an exit point of the Maju Expressway (MEX) connecting Kuala Lumpur and Putrajaya.
They demanded a ransom of 1,007,696 USDT tokens, equivalent to approximately 4.44 million Malaysian ringgits or $1 million.
On August 15, the six suspects pleaded not guilty before Judge Amir Effendy Hamzah. Despite defense counsel requests, bail was denied due to the severity of the charges.
If convicted under Malaysia’s Kidnapping Act, the accused faces a minimum of 30 years in prison, with the possibility of up to 40 years and caning.
This case is part of a larger investigation into an 18-member gang specializing in kidnappings. Selangor police chief Datuk Hussein Omar Khan confirmed that four other gang members were fatally shot in separate encounters on August 3, while authorities continue to hunt for four additional suspects believed to be still at large in the country.
The use of cryptocurrency as a ransom demand adds a complex layer to the case. It also highlights the challenges law enforcement faces in dealing with crimes involving digital assets.
Also Read: Chinese Police Uncover $1M USDT Money Laundering Scheme
Source: https://www.cryptonewsz.com/malaysian-kidnap-chinese-national-1m-usdt/