The post Binance Freezes Stolen Cryptocurrency Assets Worth $11.8 Million in Dramatic Kidnapping Scheme Twist appeared first on Coinpedia Fintech News
In a shocking series of events, Binance, one of the world’s leading cryptocurrency exchanges, successfully froze approximately $11.8 million worth of stolen cryptocurrency assets. The funds had been taken from executives who fell victim to a kidnapping scheme in Montenegro. This incident once again highlights the vulnerabilities within the crypto space and the measures that can be taken to combat criminal activities.
Kidnapping Scheme and Stolen Crypto Assets
A group of executives, representing an undisclosed client company, was lured into a fraudulent business trip and subsequently abducted. During their ordeal, the executives were coerced into transferring their cryptocurrency holdings, primarily in the stablecoin USDT, to a Tron wallet operated by the kidnappers. The total value of the stolen assets amounted to approximately $11.8 m
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