Published on augustus 16, 2024, 12:33 am
```json { "TLDR": "Six Malaysians, including a couple and four others, were charged with kidnapping a Chinese citizen for a $1 million ransom in Tether's USDT. They pleaded not guilty, face no bail, and have ties to an abduction gang. Four members of the gang were killed earlier. If convicted, they could face 30-40 years in prison. In a separate incident, Malaysia reported $723 million in losses due to electricity theft by illegal crypto miners between 2018-2023." } ```
Six Malaysian nationals, including a married couple and four individuals, have recently faced charges for allegedly kidnapping a Chinese citizen and demanding a ransom equivalent to $1 million in Tether’s USDT stablecoin. The group of accused individuals, ranging between 25 and 29 years old, reportedly abducted the man on July 11 at an expressway exit linking Kuala Lumpur and Putrajaya.
The perpetrators demanded 1 million Tether (USDT) tokens for the victim’s release, totaling around 4.44 million Malaysian ringgits. According to reports from local media sources such as Malay Mail, the accused face allegations of wrongfully detaining the Chinese man until the ransom amounting to 1,007,696 USDT was paid.
In response to these charges, the six defendants pleaded not guilty during their court appearance on August 15. Despite this plea, Judge Amir Effendy denied bail for the accused kidnappers and scheduled their next court hearing for October 8. It was further revealed that local authorities are actively pursuing four additional suspects linked to the kidnapping incident, all part of an established gang specializing in abduction cases.
Additionally, Selangor police chief Datuk Hussein Omar Khan confirmed that four other members of this criminal syndicate were fatally shot during separate encounters on August 3 prior to being apprehended.
If found guilty under the Kidnapping Act, the six Malaysians could potentially face severe consequences – with a minimum prison sentence of 30 years alongside possible caning or even up to a maximum of 40 years behind bars.
On a different note related to cryptocurrency activities in Malaysia, Deputy Minister of Energy Transition and Water Transformation Akmal Nasrullah Mohd Nasir recently disclosed alarming figures regarding electricity theft by illicit crypto mining operators between 2018 and 2023. The estimated loss attributed to illegal cryptocurrency mining activities amounts to a staggering $723 million due to unauthorized usage of electricity resources for mining purposes.
Nasir emphasized that such electricity theft often goes undetected since many crypto miners operate without proper meters installed at their locations. This revelation was made during an event aimed at disposing of seized items valued at approximately $467,000, which included Bitcoin (BTC) mining machines and electrical components implicated in illegal mining operations.
These recent events underscore some of the complex challenges surrounding cryptocurrency-related incidents globally and reinforce the importance of stringent regulatory measures within this evolving digital landscape that continues to attract both legitimate businesses as well as illicit activities.
Original article posted by Fox News
