May 6, 2026

Capitalizations Index – B ∞/21M

Dutch Bitcoin Trader Tortured with a ‘Heavy Drill’ in Violent Robbery

Dutch bitcoin trader tortured with a ‘heavy drill’ in violent robbery

Dutch Bitcoin Trader Tortured with a ‘Heavy Drill’ in Violent Robbery

Dutch bitcoin trader tortured with a ‘heavy drill’ in violent robbery

A bitcoin trader in the Netherlands was reportedly subjected to gruesome torture in front of his four-year-old daughter. A local publication suspects the man’s cryptocurrency holdings may have been the motivation for the crime.

Threatened, Tortured, and Seriously Injured

Dutch publication De Telegraaf reporting indicates that three robbers, somewhat disguised as police, invaded the cryptocurrency trader’s home. The man was threatened with firearms and seriously injured with a ‘heavy drill’, according to the report.

After an hour-long ordeal for the man and his daughter, the suspects left and are now being hunted as part of a major investigation. A fifteen-strong team of Dutch police, usually in charge of murder investigations, are working on the case. The team’s allocation shows the seriousness of the incident and Dutch authorities focus on solving the crime. There is no information to suggest that his cryptocurrency holdings were stolen.

De Telegraaf’s research discovered the victim was a cryptocurrency trader, which local police sources confirmed. The man reportedly worked in Italy and Thailand. The house in Drenthe, the Netherlands, where the incident took place had apparently been purchased in cash by the owner.

Cryptocurrency Owners Repeatedly Targeted by Criminals

De Telegraaf outlines another recent case in the Netherlands, where an Enschede man was jailed for laundering two million Euros worth of bitcoin.

Criminals not only target legitimate cryptocurrency owners but also those known for money laundering using bitcoin and other digital currencies.

In December 2017, just as bitcoin’s price reached its $19,000 peak a 35-year old man was arrested and charged in New York for armed robbery and kidnapping. Louis Meza was accused of holding the victim in order to obtain the keys to a digital wallet. Meza was able to steal Ether valued at $1.8 million. At the time district attorney Cyrus R. Vance, Jr said:

This case demonstrates the increasingly common intersection between cyber and violent crime.

Meza reportedly knew his victim owned substantial amounts of cryptocurrency and Vance added:

We can expect this type of crime to become increasingly common as cryptocurrency values surge upward.

Later that month a bitcoin exchange executive, Pavel Lerner, was kidnapped and held for a $1 million bitcoin ransom in Kiev, Ukraine. The ransom was paid, and Lerner released, with the crime under investigation by Ukrainian police.

A Global Issue

In January 2018 two bitcoin traders from the UK were robbed at gunpoint by masked home invaders in front of the couple’s infant child. The two victims had conducted over 100,000 cryptocurrency trades are were forced to transfer their cryptocurrency balances to the robbers.

Taiwan reported its first bitcoin robbery in February 2018 when four men were arrested after pretending to want to buy Bitcoin. They managed to steal 18 bitcoin, worth $188,000 at the time, from their cryptocurrency trading victim.

In October 2018 Makaveli Lindén was arrested in France accused of murdering a Norwegian Bitcoin investor Heikki Bjørklund Paltto. The crime may or may not have been connected to Paltto’s cryptocurrency investments, some of which he’d recently cashed in reportedly to purchase an apartment.

The latest bitcoin robbery is certainly gruesome and serious with no details as yet to the value stolen. If cryptocurrency balances have been transferred to the attackers the pseudo-anonymous nature of cryptocurrency wallet addresses may make them difficult, but not impossible, to trace.

Published at Mon, 25 Feb 2019 20:09:00 +0000

Previous Article

Bitcoin (BTC) Establishes Fresh Support and Resistance Levels Following Weekend Volatility

Next Article

The 5 Benefits Of Ethereum Gambling

You might be interested in …

Marc Lasry: Investment-Grade Corporate Bonds To Plunge 40%

Marc Lasry: Investment-Grade Corporate Bonds To Plunge 40% U.S. investment-grade corporate bonds are likely to plunge as economic growth slows, with some dropping as much as 40 percent, distressed-debt investor Marc Lasry said Wednesday. The […]

Chaincoin dead? Chain coin will re-emerge?

CHAINCOIN DEAD? CHAIN COIN WILL RE-EMERGE?

CHAINCOIN DEAD? CHAIN COIN WILL RE-EMERGE? Chaincoin has been in the spotlight for the last several weeks. Its received much negative criticism along with many loyal followers, I being one of them. Chaincoin may be […]

Sandbox for Public Blockchain Projects Launched in China By Wanxiang Group

Sandbox for Public Blockchain Projects Launched in China By Wanxiang Group

On May 12, 2017, Chinese blockchain technology leader Wanxiang Group, a conglomerate with automotive, real estate and financial services holdings, announced the launch of WanCloud, a new blockchain product under its Wanxiang Blockchain Corporation subsidiary in Shanghai.

WanCloud provides an ecosystem for open-source blockchain protocols to be localized and made easily accessible to the Chinese development community and enterprise users. Initial blockchain protocols included in the ecosystem and supported by WanCloud’s infrastructure of developers and consultants are  BlockApps, Factom and Stellar.

Part of Wanxiang’s stated goal is to drive the advancement of China’s blockchain ecosystem of developers, startups and enterprises. Speaking with bitcoin Magazine, WanCloud CTO Haifeng Xi described WanCloud as “not just a technical platform; it’s an open innovation platform. WanCloud is essentially a bridge between [the] global blockchain development community and China. We aim to connect the world to the Chinese developer community, Chinese startups and traditional Chinese businesses.”

WanCloud is unique as an ecosystem in that it allows users to work with open-source blockchains more easily and in one place. Unlike traditional Blockchain-as-a-Service (BaaS) providers that have private networks or build on top of one public chain, WanCloud plans to continually introduce the most useful open-source platforms into the WanCloud ecosystem.

Tom Tao, vice president at Wanxiang Blockchain Corporation and head of WanCloud, told bitcoin Magazine that he hoped to “bring as many fabrics as possible into the Chinese community and to drive interaction and even inter-chain collaboration, improving application level innovation for each participating protocol.”

David Johnston, chairman of Factom, and Jed McCaleb, CEO of Stellar, spoke with bitcoin Magazine about why they chose to be a part of WanCloud and how it aligns with their respective companies’ goals.

“WanCloud platform is acting as a bridge between the advanced tech provided by U.S. entities and the huge market of potential users in China,” said Johnston, “providing them a more transparent and secure use case set in important areas like data management and auditing where Factom has core competencies as a platform.”

Zeen Zhang, CEO of Factom China, added, “This partnership is important for Factom China because it will make it easier for our product to reach and serve the needs of the end users in China. WanCloud is really adding value, helping us localize the platform for enterprise users and the large community of developers in China.”

Fresh off the launch of its global payments platform Lightyear, McCaleb spoke with bitcoin Magazine about WanCloud’s benefits for Stellar’s development.

“Its an exciting development that makes it much easier for people to integrate with Stellar and will enable more experimentation … China is obviously a huge market and almost every partner that we talk to in the world asks us how they can get money either in or out of China.”

Chainbase Accelerator’s New Cohort

In addition to the launch of WanCloud, Wanxiang announced the opening of the second cohort of its Chainbase Accelerator to startups, in coordination with ICOAGE, an Initial Crypto-Token Offering platform based in Shanghai and headed by James Gong, a leading blockchain intellectual and consultant in China and CEO of ChainB. Projects accepted into Chainbase Accelerator will have the opportunity to receive technical support and consulting from WanCloud architects.

Yu Cheng, a partner at Chainbase Accelerator as well as the chief product officer at WanCloud, spoke with bitcoin Magazine about Chainbase Accelerator and said that the first cohort was “made up of experts from traditional industries and they saw blockchain [technology] as a way to solve for problems in their industries. We are looking to bring in businesses whose applications are suited for the distributed nature of blockchain tech.” Cheng has coined the term “distributed commercial value” in China to refer to new capabilities that blockchain tech enables.

WanCloud joins a burgeoning group of blockchain subsidiaries for Wanxiang Group under Wanxiang Blockchain Corporation, including consulting and research interests Wanxiang Blockchain Business Innovation Consulting and Wanxiang Blockchain Labs, as well as Chainbase Accelerator and VC arm Fenbushi Capital.

The post Sandbox for Public Blockchain Projects Launched in China By Wanxiang Group appeared first on Bitcoin Magazine.