A disturbing incident has unfolded in southern Spain, where a man and his partner were targeted in a brutal assault and kidnapping aimed at their cryptocurrency holdings. The man was shot in the leg as he attempted to escape during the attack.
According to police reports, both victims were taken to a house, where they were held for several hours. The woman was eventually released around midnight and promptly alerted the authorities.
Tragically, the man was found dead in woodland near Mijas in Malaga province. His body bore signs of violence beyond the gunshot wound. Police have arrested five individuals in Spain in connection with the case, with four more charged in Denmark, illustrating the cross-border scope of these criminal networks.
Crypto Kidnappings Surge
The Spain attack is part of a global pattern. Kidnappings targeting crypto holders have multiplied as the value of cryptocurrencies rises, CBS News reported.
In 2024, a Canadian family was tortured for 13 hours in a similar attack that netted criminals $1.6 million. Months later, in January, kidnappers abducted French crypto executive David Balland and his partner. Balland, who co-founded Ledger, a cryptocurrency firm worth more than $1 billion, was subjected to a brutal ransom demand: his kidnappers cut off his finger. He was released the following day, and police found his girlfriend tied up in the boot of a car outside Paris.
In May, a bitcoin holder was allegedly tortured for weeks at his home in New York City. The 28-year-old escaped his captors on 23 May in SoHo, Manhattan.
Multiple attacks also targeted Paris that month. Assailants attempted to kidnap the daughter and grandson of Paymium’s chief executive. Police rescued a cryptocurrency millionaire’s father from kidnappers in a Paris suburb. His kidnappers demanded at least €5 million from his son, reports Le Parisien.
Held for Hours While Criminals Accessed Wallets
Spanish police recovered pistols and blood-stained trousers after raiding homes in Madrid and Malaga linked to the Spain case. The couple had been held for hours while attackers tried to break into their crypto wallets, police said.
This prolonged captivity highlights the unique challenge of crypto theft. Unlike cash robberies, where money is exchanged instantly, digital assets require passwords or biometric access. Attackers often coerce victims into unlocking accounts or revealing security codes through extended threats.
The woman’s release at midnight in April prompted the police investigation, leading to raids. During these searches, officers seized items connected to the case.
Police posted videos on social media showing raids, vehicle searches, and evidence collection. The footage included multiple suspects in handcuffs being led away.
Authorities did not specify when arrests would be made. The operation resulted in charges both in Spain and Denmark.
As Crypto Values Rise, Threats to Holders Persist
The surge in cryptocurrency prices has fueled a wave of violent kidnappings. Between January and May, several incidents occurred across Europe and North America, often within weeks of each other.
Targets include not only crypto company founders but also everyday holders. In early January, a 56-year-old man was found alive in the boot of a car near Le Mans, France. His abductors had tried to extort his son, a crypto influencer based in Dubai.
Of the four charged in Denmark over the Spain case, two were already imprisoned for similar crimes. These repeat offences reveal criminals developing specialised knowledge of targeting crypto assets. The mounting violence underscores the deadly stakes for those involved in digital currencies.
Originally published on IBTimes UK
