Crypto traders are increasingly becoming victims of kidnappings and extortion as the value of cryptocurrencies surged over the past year. Notable incidents include a man rescued from a trunk in France after his captors demanded a ransom from his son, a crypto influencer. Similarly, in Pakistan, a crypto trader was abducted, forced to transfer $340,000 in Bitcoin to his kidnappers, before being released near a notable site. Additionally, in Australia, a Saudi royal was lured into a kidnapping scheme via a dating app, where he was threatened unless he paid $40,000 in Bitcoin. Police are also investigating the kidnapping of Dean Skurka, a Canadian crypto exchange CEO, who was released after a ransom of $1 million was paid. Ransomware schemes have proliferated, with over $1.1 billion extorted in 2023 alone, as highlighted by Chainalysis data. The crypto market's rapid growth has drawn criminals seeking to exploit it through kidnappings and ransom demands.

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