Rescued Hong Kong kidnapping victim under 24-hour police protection

Police source says the protection arrangement is necessary, as several suspected key figures behind the kidnapping remain at large

The victim is still recovering in hospital from fractures to his arms and legs sustained during his week in captivity

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Police have also found that some HK$35 million in Tether tokens were stolen from the kidnapped cryptocurrency trader’s account. Photo: EPA-EFE

Published: 6:30pm, 16 Nov 2021Updated: 9:39am, 17 Nov 2021

A cryptocurrency trader who was rescued last Friday after being kidnapped and held for a HK$30 million (US$3.8 million) ransom in Hong Kong has been placed under 24-hour police protection, the Post has learned.

Sources revealed the arrangement on Tuesday, with investigators now believing that some HK$35 million in Tether tokens had been stolen from the victim’s account after he was forced to hand over the password during his week in captivity.

“The victim is unable to log on to his account. It is likely that the password was changed after the digital coins were transferred out of his e-wallet account,” one police source said.

The source said police protection was “necessary” because suspected key figures behind the kidnapping were still at large.

The 39-year-old man suffered fractures to his arms and legs from beatings he received after being abducted on November 6. He is receiving treatment in hospital, and his condition is listed as serious.

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