Chinese Businessman Kidnapped in Hong Kong, Crypto and Silver Stolen

Hong Kong police have launched an investigation after a 25-year-old mainland Chinese businessman was kidnapped and assaulted during a meeting that turned into a violent robbery.

The incident happened at a hotel in Hung Hom. According to police reports, the victim arranged a meeting with several individuals to discuss a possible silver trading business.

Instead, the meeting quickly turned violent. Authorities said three men and a woman attacked the victim and forced him to reveal the passwords to his cryptocurrency accounts.

The attackers then transferred roughly $680,000 worth of digital assets from the victim’s account.

Crypto and Silver Worth Over HK$6 Million Stolen

After gaining access to the victim’s crypto wallet, the suspects reportedly took him to another location in the same district.

Police said the group brought the victim to a unit in an industrial building in Hung Hom. There, they seized 42 kilograms of silver belonging to the victim’s company.

Authorities estimate the stolen cryptocurrency was worth about HK$5.3 million. The silver items were valued at roughly HK$800,000.

Combined losses from the crypto and silver theft exceeded HK$6 million, or around $779,900. Moreover, the suspects fled the scene before police arrived.

Victim Injured as Police Launch Manhunt

The victim suffered multiple injuries during the attack. Police said he had wounds to his face, arms, and calves. He was later taken to Queen Elizabeth Hospital for treatment.

The victim contacted police around 3:52 am after being released by the suspects. Officers responded to the hotel but found the attackers had already escaped.

Authorities classified the case as extortion and unlawful imprisonment. Detectives from the Kowloon City Police District Crime Squad are now handling the investigation.

Police are reviewing hotel surveillance footage and financial transaction records to track the stolen cryptocurrency. No arrests have been made so far, and a manhunt is underway for the four suspects.

Similar incidents have been reported globally. Earlier this year, a Chinese businessman was found dead in Istanbul after a kidnapping linked to cryptocurrency theft. Investigators later identified ten suspects connected to the case.

Related: Crypto Thieves Combine Physical Assault and Wallet Poisoning to Steal $24 Million