A Canadian crypto forum moderator has gone into hiding with his family after narrowly escaping a harrowing kidnapping attempt. According to a report from Canadian French-language outlet La Presse, the assailants allegedly sought to torture the man into surrendering his Bitcoin holdings, mistakenly believing he possessed an extraordinary fortune.

The victim, whose identity remains undisclosed, described the attackers’ preparations for brutal violence. He recounted, “They had equipment to torture me. They brought a tarpaulin designed to sever limbs and stop the bleeding.” The chilling encounter forced him and his children to flee their home and seek refuge in temporary accommodations.

The man believes the would-be kidnappers were motivated by his role as a moderator of a crypto-focused Facebook group, where they erroneously assumed he controlled a massive Bitcoin stash worth millions. “That is far from the truth. I’m just an ordinary guy with maybe $10,000,” he clarified.

The ordeal began on Nov. 4, when two masked individuals threatened him outside his home. Days later, a suspicious vehicle without license plates followed him, culminating in a gun being pointed at him. Authorities arrested four suspects, two of whom were charged with conspiracy to kidnap and firearms possession. However, the suspects were released on bail pending their trial in March, a decision that has left the victim fearful and financially strained.

The case underscores the growing trend of crypto-related crimes. High-profile incidents include a French man rescued from a car trunk on New Year’s Day and a Pakistan-based trader forced to transfer $340,000 under duress on Christmas.

Experts warn against flaunting crypto wealth online, as anonymity reduces the risk of becoming a target. Crypto advocate Jameson Lopp, who has documented over 180 such cases since 2014, advises maintaining a low profile to avoid these threats.