Mark Cheng Jin Quan, the former blockchain advisor of X Infinity was kidnapped and tortured in Thailand for a ransom of SGD 1 million in Bitcoin. Mark was supposed to be on a one-day trip with fellow Singaporean Kim Lee Yao Wei to Thailand when the incident happened.
Once they reached the Suvarnabhumi airport, they took a Grab taxi to meet Lee’s friend and Mark was clueless about where they were heading as he trusted him completely. When the car stopped at a petrol station, he was grabbed by a group of masked men, blindfolded and bundled into a car.
Later, he found himself in a house where his legs and hands were tied to a chair, and he was then worried about his friend Lee. He claims to be beaten and electrocuted with electrical wires as they demand a ransom.
After he transferred over 5.9 BTCs, they still find it insufficient and brought him to another location where threatened to kill him. Fortunately, he managed to escape, and a motorcyclist helped him to reach the Ongkarak police station.
Surprisingly, Lee, 31, was arrested at a Bangkok hotel on Sunday and has been charged with robbery, detention of others, physical assault and illegal possession of firearms, as he confessed to all charges.
However, Mark was accused of misappropriating $323,052 belonging to an investment company in 2014 and he needs to attend the next court hearing on 3rd February 2020.
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