Four sought over $15m crypto debt abduction

Michael Shum

A 55-year-old woman was abducted by four men over a HK$15 million cryptocurrency trading dispute in Sheung Shui and her husband attacked yesterday in the second snatching incident in three days.

Upon being released, the woman, Chu, filed a report with the police. She is a cryptocurrency investor and her husband, Ho, is the owner of an information technology company.

According to a source, "the abduction appears to have been motivated by a HK$15 million debt that Chu had accumulated in cryptocurrency trading."

The incident took place at about 8 pm on Tuesday when the couple was driving home along Po Shek Wu Road.

As they neared their village house in Tai Tau Leng Village, their vehicle was intercepted by another car.

Four men emerged and forcibly pulled Chu out and took her with them, leaving Ho behind.

Ho was punched and tasered while trying to prevent his wife's abduction. He and bystanders contacted the police.

The assailants fled the scene on Po Shek Wu Road in the direction of Lok Ma Chau.

They took Chu to a carpark in Sheung Shui and changed vehicles.

Inside the new car, they put pressure on Chu to settle her debts promptly.

Chu was eventually released near Ta Kwu Ling, and went to the police station there. Officers collected fingerprints from the couple's vehicle.

Ho suffered injuries to his neck, hands and legs, while Chu had bruises to her hands and legs. They were taken to Northern District Hospital.

The case has been classified as false imprisonment and assault occasioning actual bodily harm. The Tai Po crime unit is handling the case.

The suspects are described as being between 30 and 50 years old.

The earlier abduction took place on Monday in Tsim Sha Tsui, where a 47-year-old woman was abducted by two men and a woman over a HK$100,000 dispute. The suspects, aged between 34 and 53, have been arrested for false imprisonment, arson, using false instruments, driving a vehicle without third-party insurance and without a license.