In the initial phase of crypto development, developers dreamt about a world with a secure and transparent financial system free from traditional restrictions like banks, financial institutions, centralized authorities, etc., providing privacy and empowerment. Though this dream has been achieved, with this, we have also seen a rise in crypto crimes like kidnapping.
In 2025, there has been a surge in crypto kidnapping cases, which involves physical abuse and other means of torture to acquire passkeys or a huge ransom. Although blockchain offers transparency, the anonymity of crypto payments makes tracking kidnappers difficult, sparking fear within the community.
Thus, in this post, we will look at the rise in crypto crimes and will also suggest preventive measures to avoid becoming a victim of such crimes.
Crypto Kidnapping Cases in 2025
Take a look at globally recorded crypto kidnapping cases that caught eyeballs in 2025.
United States
John Woeltz was arrested in a crypto kidnapping case involving an Italian millionaire.
William Duplessie was later taken into custody as an accomplice.
1. New York City
In May 2025, U.S. law enforcement agencies arrested John Woeltz and William Duplessie in the kidnapping and torture of Italian crypto millionaire Michael Valentino Teofrasto Carturan to get his Bitcoin credentials.
2. Arizona
Three teenagers from Florida were booked by law enforcement for kidnapping a Las Vegas-based crypto investor and stealing $4 million in cryptocurrency. After stealing the amount, they abandoned him in the Arizona desert. However, he managed to walk miles to seek assistance and report the incident.
France
3. Le Mans
On the eve of the New Year, criminals kidnapped the father of a Dubai-based crypto influencer and harmed the victim for a ransom of €5–7 million ($5.7-7.98 million) from his son. The police rescued the old man from a car trunk but one of his fingers was brutally severed. Currently, five suspects have been arrested, and the investigation is underway.
Crypto wallet firm Ledger’s co-founder David Balland in a still.
4. Central France
In January 2025, the co-founder of crypto wallet firm Ledger, David Balland, and his wife were abducted for a ransom of €10 million ($11.40 million). Authorities rescued the duo within a few days, but the perpetrators mutilated Balland’s finger. As of now, around 10 individuals have been arrested in connection with the case.
Canada
5. Toronto
In late 2024, the founder and CEO of WonderFi, Dean Skurka, was kidnapped by attackers and was released after he transferred a $1 million ransom amount in crypto to them. Currently, the authorities are searching for the culprits.
6. Victoriaville
A Canadian crypto forum moderator survived a kidnapping attempt in January 2025 after criminals mistakenly perceived the man to be holding 2.5 million BTC worth nearly $2.62 billion at the time. “The guys had equipment to torture me,” he said, according to a report by La Presse. Four suspects were taken in custody but two left on bail. Hence, the victim’s family is still hidden to avoid any future attack.
Pakistan
7. Karachi
Pakistan’s local crypto trader, Mohammed Arsalan, was abducted by perpetrators in late 2024. He was forced to transfer $340,000 in crypto via his Binance account. The law enforcement agencies, in January 2025, arrested seven individuals in this case, including a Counter-Terrorism Department officer, and an investigation is underway.
Australia
8. Melbourne
In December 2024, a 24-year-old TikTokker with her friend kidnapped a Saudi royal after being lured via a dating app. The criminals threatened him to transfer $40,000 in Bitcoin or they would cut off their fingers.
Why is Crypto Kidnapping increasing?
Here are some common reasons that may cause a surge in crypto kidnapping:
- High Anonymity: Crypto wallets do not require real-world identities, which helps criminals to hide their identity and avoid any criminal charges.
- Unregulated Transactions: The crypto transactions are unregulated and also irreversible, which makes them the ideal choice for ransom payments.
- Fast Transfer of Wealth: In cryptocurrency, a user has the advantage of transferring millions in seconds without any restriction, making it best for ransoms.
- Rising in Bitcoin Price: The recent hike in the Bitcoin price makes the holders attractive targets for high-reward crimes.
- Low-Risk: Crypto-related kidnappings offer high financial gains as compared to traditional crimes, with fewer chances of detection or prosecution.
How Do Crypto Kidnapping Gangs Work?
Below are the two methods mostly used by criminals in crypto abduction:
Social Engineering & Data Mining
Kidnappers mainly use social media platforms, forums, and blockchain analysis to find wealthy crypto owners. Participating in crypto events and publicly displaying a lavish lifestyle due to digital asset holdings can increase the risk of being targeted.
Brutal Torture Methods
After victims have been kidnapped, criminals usually use violent methods such as electric shocks, broken limbs, and sleep deprivation to gather the demanded wallet credentials and be able to perform immediate cryptocurrency transfers. To fulfill their demands, they not only torture the victim but also their family members.
Measures To Avoid Crypto Kidnapping
Check out some preventive measures to avoid crypto kidnapping:
Limit Public Exposure
Crypto investors and millionaires should avoid sharing their profiles, digital asset holding details, etc on social media platforms. Also, they should limit publicizing their presence at a large-scale event, which could again attract unwanted attention.
Strengthen Physical Security
If investors think that they are vulnerable to any attack, they should increase their security and use secure transportation to avoid chances of abductions.
Use Multi-Signature Wallets
A user must use multisig wallets to store their crypto because it requires multiple approvals to access funds and which can prevent immediate transfers even under physical threats.
Keep Emergency Protocols Ready
An investor must have a trusted contact or legal team informed about their crypto holdings and response plan. A user must share backup access only with those they fully trust in case of emergencies.
Avoid Geo-Tagging and Location Sharing
Disable location services on devices and avoid posting real-time locations. Criminals often track victims through geo-tagged content to plan their approach or locate them easily.
Stern Warning To All Crypto Enthusiasts!
The recent surge in cases of crypto-kidnapping has been the dark side of the digital market. With the rapid development of cryptocurrencies comes the need for people to be mindful of their safety, security measures, i.e., not only about their data but also about their lives.
An investor must see their digital wealth the same way as their physical wealth. Hence, they must follow the same safety steps that they follow to secure their assets like avoiding exposure, safe custody, vigilant behaviour, etc. These measures reduce risk and offer a safe path to further crypto endeavours.
