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Singaporean Paid SGD1 Million In Bitcoin As Ransom

Singaporean Paid SGD1 Million In Bitcoin As Ransom

Singaporean Paid SGD1 Million In Bitcoin As Ransom-techcryption

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.

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“I don’t think I want to come back here (to Thailand) again and I will leave Thailand either this Thursday or Friday.”

Mark Cheng Jin Quan

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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