Six Malaysians Charged with Kidnapping, Demanding $1M in Tether in Ransom

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Six Malaysian nationals, including a married couple, have been charged with kidnapping a Chinese citizen and demanding a ransom of 1 million USDT.

The suspects, aged between 25 and 29, allegedly abducted the victim on July 11 at an expressway exit linking Kuala Lumpur and Putrajaya.

The charge sheet, as reported by local media outlet Malay Mail, details that the group held the Chinese national captive, demanding the substantial sum in Tether, a popular cryptocurrency.

During a court appearance on August 15, all six accused pleaded not guilty to the charges.

However, Judge Amir Effendy denied bail, citing the severity of the offense. He set the next court hearing for October 8.

“After considering all arguments and the nature of the charges, the court has decided that bail will not be granted,” the judge stated.

The case has drawn attention to a larger criminal syndicate involved in cryptocurrency-related kidnappings.

Selangor police chief Datuk Hussein Omar Khan revealed that the authorities are also pursuing four additional suspects linked to the abduction.

These suspects are part of an 18-member gang known for similar criminal activities.

In a related development, four members of this gang were reportedly killed in separate police encounters on August 3.

If convicted under Malaysia’s Kidnapping Act, the accused could face a prison sentence ranging from 30 to 40 years, along with caning.

The case also highlights broader concerns about the intersection of crime and cryptocurrency in Malaysia.

Deputy Minister of Energy Transition and