A Bitcoin trader in South Africa was kidnapped and tortured in order for criminals to steal his cryptocurrency.

Bitcoin and its brethren exist in the digital world, but the real world can hold dangerous and terrifying consequences for those involved in the cryptocurrency ecosystem. Criminals have proven themselves quite willing to rob, assault, and even potentially kill those who possess virtual currencies. The latest case involves a Bitcoin trader in South Africa who found himself kidnapped and tortured.

Horrible Doings in South Africa

It’s been reported that a Bitcoin trader, known only as Andrew in local media, met a man on Facebook that was interested in cryptocurrencies. Andrew was invited to a residence in Ntuli Street in Meadowlands Zone Five to give a presentation on cryptocurrency.

Andrew showed up at the residence at 1 pm to give his presentation. There, he was met by a group of four men and two women. When he entered the home, someone came up behind him and stuck a cloth over his face. This cloth was apparently soaked with some kind of drug as he was rendered unconscious.

Bitcoin wallet

When he woke up, he found himself in a different residence and surrounded by three men and two women. The group demanded his bank account information and his password to his Bitcoin wallet. He was stripped of his clothes, was assaulted, and tortured with a hot iron. Eventually, he gave up the information.

The criminals stole about R 800,000 ($57,873 USD) from his Bitcoin wallet. They also stole R 100,000 ($7,234) from his bank account, as well as the R 3,000 ($217) he was carrying on his person. The criminals also stole two laptops and two iPhones. Luckily for Andrew, the criminals blindfolded him and dropped him off on a distant road. He is currently recovering in the hospital ICU. Police are looking for the culprits.

Crypto Violence on the Rise

Andrew is lucky to be alive. Criminals are quite willing to use violence to gain access to cryptocurrencies. Back in March, two women performed a home invasion in Connecticut to steal bitcoins from the homeowner. The pair were armed with a cattle prod and pistol, which was used to whip one of the home’s occupants.

In Taiwan, a man, looking to sell his bitcoins, and his friend were set upon by a gang of four men. The two men were beaten up and the seller was forced to transfer over $170,000 in bitcoins. In New York City, a group of “friends” poured hot wax on a man and held his head underwater in order to get his crypto wallet information.

Criminals are quite happy to use force to gain cryptocurrency.

Another violent attack took place in the United Kingdom back in January. A Bitcoin trader had a gang of armed criminals burst into his home in the late morning. He and his wife were held at gunpoint while their baby was put outside on the porch. Once the trader transferred his cryptocurrency over to the thugs, they left.

As you can see, it can get quite dangerous when meeting someone face-to-face in the crypto world. It behooves one to always meet in public places and to have some people with you at all times. It’s always wise to take precautions as many criminals are willing to go to some very lengthy, and sordid, steps to get their hands on your cryptocurrency.

Have you ever been worried when doing a physical trade? Let us know in the comments below.

Images courtesy of Shutterstock and Pixabay.

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