Fun

Malaysian kidnappers abducted Chinese man for $1M USDT: Report

News Feed - 2024-08-15 06:08:27

Arijit Sarkar14 hours agoMalaysian kidnappers abducted Chinese man for $1M USDT: ReportSix Malaysian nationals, including a couple, have been charged with kidnapping a Chinese citizen and demanding a ransom of $1 million in USDT.990 Total views5 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onSix Malaysian nations — a married couple and four individuals — were charged with kidnapping a Chinese national and demanding a ransom of 4.44 million Malaysian ringgits ($1 million) in Tether’s USDT stablecoin.


The accused, aged between 25 and 29, allegedly kidnapped the man at one of the exit points of an expressway connecting the cities of Kuala Lumpur and Putrajaya on July 11. The group then demanded a ransom of 1 million Tether (USDT) tokens for the victim’s release.Kidnapper demands stablecoin ransom


The charge sheet alleges the wrongful detention of the Chinese man for a ransom amounting to 1,007,696 USDT, according to local media outlet Malay Mail. 


On Aug. 15, the six accused pleaded not guilty to the abduction charges. However, Judge Amir Effendy denied bail to the alleged kidnappers and set the next court hearing for Oct. 8. He ruled:“After considering all arguments and the nature of the charges, the court has decided that bail will not be granted.”


Meanwhile, local police are also working to track down four additional suspects connected to the abduction, all of whom are members of an 18-person gang of experienced kidnappers.A bigger syndicate of crypto kidnappers


Selangor police chief Datuk Hussein Omar Khan confirmed that four other members of the gang were shot and killed on Aug. 3 in separate encounters.


If convicted under the Kidnapping Act, the six Malaysians will face a minimum prison sentence of 30 years or a maximum of 40 years and caning.


Related:Microsoft pours $2.2B into Malaysia for cloud, AI expansion


Deputy Minister of Energy Transition and Water Transformation Akmal Nasrullah Mohd Nasir recently revealed that between 2018 and 2023, $723 million worth of electricity was lost to illegal crypto mining operators.Source:Akmal Nasir


“The theft of electricity by those who mine cryptocurrency occurs because they believe this activity cannot be detected due to the absence of meters on their premises,” Nasir explained at an event dedicated to destroying 2,022 seized items worth around $467,000, including Bitcoin (BTC) mining machines and electrical equipment.


Magazine:AI may already use more power than Bitcoin — and it threatens Bitcoin mining# Altcoin# Law# Court# Malaysia# Tether# RegulationAdd reaction

News Feed

Ukraine Now Takes Polkadot, Says It Will Accept Other Coins Soon
Ukraine Now Takes Polkadot, Says It Will Accept Other Coins Soon Having already raised millions of dollars in major cryptocurrencies like bitcoin, Ukraine is now receiving donation
In Response to Bitcoin, Central Bank of Brazil Presents Instant Payment System Pix
In Response to Bitcoin, Central Bank of Brazil Presents Instant Payment System Pix Banco Central do Brasil has started testing a new payment network with the promise to offer Bra
McKinsey: The Metaverse Could Generate $5 Trillion by 2030 — ‘Simply Too Big to Be Ignored’
McKinsey: The Metaverse Could Generate $5 Trillion by 2030 — "Simply Too Big to Be Ignored" Global consulting firm McKinsey & Company has forecasted that the metaverse may genera
Bitfinex CTO: Tether Is Registered and Regulated Under FinCEN- USDT Not Next Target of the US SEC
Bitfinex CTO: Tether Is Registered and Regulated Under FinCEN- USDT Not Next Target of the US SEC The CTO at Bitfinex Paolo Ardoino has pushed back against rumou
FTX US Launches NFT Market — Users Can Trade and Mint Solana NFTs, ETH Support on the Way
FTX US Launches NFT Market — Users Can Trade and Mint Solana NFTs, ETH Support on the Way On Monday, FTX US announced the launch of its marketplace for non-fungible token (NFT) a
Ciaran Lyons2 hours agoBitcoin bought by corporate giants should not be feared — Michael SaylorDuring a recent podcast interview, Michael Saylor explained that Bitcoin being bought and custodied by corporations should
Tom Mitchelhill5 hours agoCoin Center and Blockchain Association slam ‘unworkable’ US Senate DeFi billCoin Center said the bill was unconstitutional, while the Blockchain Association called it incompatible with block
Bitcoin price sheds 3% as $6B leaves Mt. Gox cold wallet
William Suberg30 minutes agoBitcoin price sheds 3% as $6B leaves Mt. Gox cold walletMt. Gox appears to be shifting funds from cold storage in preparation for distribution to creditors, with nearly 100,000 BTC in outflows
Gareth Jenkinson10 hours agoUK Law Commission recommends ‘distinct’ legal category for cryptoThe U.K.’s Law Commission highlights four major recommendations to reform laws relating to cryptocurrency use and ownersh
Guneet Kaur11 hours agoWhat is Chapter 11 bankruptcy? Understand the basicsUnderstand how companies reorganize amid financial challenges to ensure business continuity via Chapter 11 bankruptcy.651 Total views3 Total shar
Amendments to Russia’s Digital Asset Law Aim to Allow Mining, Ban Crypto Exchange and Ads
Amendments to Russia’s Digital Asset Law Aim to Allow Mining, Ban Crypto Exchange and Ads Russian lawmakers have proposed changes to the current law “On Digital Financial Asset
Bitcoin To $1 Million? Michael Saylor Laughs Off Crypto Winter Fears
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu