UK Gang Sentenced For Kidnapping And Extorting Cryptocurrency Investor

According to Cointelegraph, seven members of a UK gang have been convicted and sentenced to prison for kidnapping, torturing, and extorting a cryptocurrency investor. The victim endured repeated assaults and was coerced into transferring £100,000 ($124,152) worth of cryptocurrency over several months. The harrowing ordeal began in January 2023 when the victim was confronted at his home by a man demanding cryptocurrency. Fearing for his life, he transferred funds to gang member Scott Armstrong. Later that month, David Povey and another accomplice, armed with a knife, forced him to hand over more money. Despite complying, the victim's torment continued. In October 2023, the gang intensified their attacks. Gary Edwards lured the victim to a flat, where he was tied up, beaten, and locked in a cupboard overnight. When he couldn't pay immediately, another assailant, Kane Godiff, threatened his life. After enduring hours of violence, the victim was released only after the gang received the demanded amount. A few days later, the gang targeted him again, forcing him into a house, placing a bag over his head, and subjecting him to further threats and violence. The final attack occurred on November 30, 2023, when Edwards approached the victim at a friend's house, abducted him into a van, and transported him to another location. On December 2, 2023, police received an anonymous tip about the victim's welfare. Officers arrived to find gang member Karl Johnson fleeing the scene. Inside the house, they discovered the terrified victim, who pleaded for help. He bore burn marks, bruises, and injuries from being beaten with weapons. Authorities also found a gun, ammunition, machetes, knives, a baseball bat, ropes, and cable ties used to restrain him. On January 30, 2025, at Manchester Crown Court, the gang members received lengthy prison sentences. Jonathan Newns, 24, was jailed for 20 years for attempted robbery, kidnap, false imprisonment, and possession of a firearm. David Povey, 34, received 20 years for robbery, kidnapping, false imprisonment, and attempted robbery. Luke Johnson, 25, was sentenced to 13 years and six months for attempted robbery, false imprisonment, and kidnapping. Edwards, 47, was jailed for 10 years and two months for attempted robbery, while Godiff, 33, received seven years and five months. Karl Johnson, 35, was sentenced to three years for assisting robbery, and Armstrong, 39, received two years and four months for transferring criminal property. This case highlights the increasing attacks on cryptocurrency investors and executives, with ransomware gangs extorting over $1.1 billion in crypto payments in 2023, as reported by Chainalysis. In a related incident, David Balland, co-founder of French hardware wallet manufacturer Ledger, was kidnapped from his home in France on January 21 and held captive until police secured his release on January 22, with the kidnappers demanding a ransom in cryptocurrency.