- A UK gang has been sentenced for kidnapping and extorting a crypto investor.
- Crypto-related crimes are rising, with an estimated $1.1 billion stolen by 2023.
A vicious UK gang that kidnapped and tortured a cryptocurrency investor for months has been put behind bars. The kidnappers forced the victim to transfer almost £100,000 ($124,152) in cryptocurrency before police rescued him in December 2023.
The ordeal for the victim started in January 2023 when a man visited his house demanding some cryptocurrency. He complied with the demands, fearing for his life, and was compelled to send money to Scott Armstrong. However, the attacks continued. Towards the end of that month, David Povey and another man armed with a knife stole more money from him. Attacks worsened in October when Gary Edwards duped the victim into visiting a flat where he was tied up, beaten, and locked overnight in a cupboard. Since he could not raise the cash immediately, he was threatened with death by Kane Godiff.
This time, they were not satisfied, they kidnapped him a few days later, put a bag on his head, and continued issuing threats. Edwards’ final attack was on 30 November at a friend’s house where Edwards ambushed him, threw him into a van, and whisked him to another location.
Crypto Investor Freed After Months of Abuse
The victim’s ordeal ended on December 2, 2023, when a tip was anonymously sent to the police concerning his well-being. The officers came to the place and found Karl Johnson trying to run away. In the house, they met the terror-stricken victim crying for help. He had marks of burns, bruises, and deep wounds due to weapons.
Authorities found an arsenal of arms, including a gun, bullets, machetes, knives, and cable ties to tie the victim. The defendants were sentenced on January 30, 2024, at Manchester Crown Court. Povey and Jonathan Newns each received 20 years in prison, Luke Johnson was sentenced to 13 years and six months, Edwards to 10 years and two months, and Godiff to seven years and five months. Karl Johnson received a sentence of three years, whereas Armstrong received two years and four months.
The case shows an upward trend in crypto-related crime cases. In 2023, according to Chainalysis, ransomware gangs have extracted over $1.1 billion in crypto payments. Other related cases include the kidnapping of France-based Ledger co-founder David Balland. He was kidnapped on January 21 and held as a hostage until police freed him the following day after his kidnappers demanded a crypto ransom.
