When Your Friend Kidnaps You to Steal Your Bitcoins

Marko Vidrih
Jan 14 · 2 min read

A 32-year-old Singaporean was kidnapped, tortured and almost killed by his own friend because he wanted his Bitcoins.

Kim Lee Yao Wei was detained by the Thai police on Sunday for kidnapping his colleague and requested 1 million Singapore dollars ($740,000) in Bitcoin (BTC) as a ransom.

Cheng says he is appalled to learn that his friend Kim Lee is the mastermind of the kidnapping:

“I didn’t expect my friend to be involved. I really don’t know who I can trust now.“

Lee, who had met his friend Cheng, the co-founder of Avelife, through business with crypto, accompanied him on the trip where everything happened. Lee persuaded Cheng to travel to Thailand to do business with some local people. When they reached a certain gas station, they stopped at Lee’s suggestion. There, they were allegedly attacked and kidnapped by a group of masked men, blindfolded, and drugged.

Cheng claimed that he was taken to four different locations in forested areas over the next 12 hours. He said:

“They took off my clothes, sprayed me with ice water and gave me electric shocks. They asked me to hand over 1 million in Bitcoin.”

He could only afford to give them $62,400 in BTC. After paying them, they still took him to a hut in a field, where they pointed a gun at his head. He’d heard men digging a grave before.

“ Fortunately, I know martial arts. I reached behind my head and grabbed the pistol, and then I fled.“

According to the spokesman for the Thai police, Cheng was taken to the nearest police station on January 10 by a good Samaritan. Lee, on the other hand, was arrested in a hotel in Bangkok on January 12 after a large-scale search.

On Monday, the Thai police revealed that Lee was the alleged culprit behind the kidnapping and was charged with robbery, physical violence, illegal arrest, and illegal gun possession. . The police have secured most of the ransom. Cheng is shocked and very dismayed but will testify later on Lee’s trial.

Author: Marko Vidrih

Featured image credit: Pixabay

The Capital

The Capital (former Altcoin Magazine) is a social financial news aggregator powered by Bitcoin

Marko Vidrih

Written by

Most writers waste tremendous words to say nothing. I’m not one of them.

The Capital

The Capital (former Altcoin Magazine) is a social financial news aggregator powered by Bitcoin

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade