Philippine Police Rescue Kidnapped Chinese Citizen, Victim Forcibly Transferred Approximately $400,000 in Cryptocurrency

Odaily News: On January 16, police in Pasay City, Philippines, rescued a Chinese citizen who had been kidnapped by his compatriots in a local apartment and arrested two suspects. Four suspects entered the victim's residence on Thursday, demanding $1 million at knifepoint. During the illegal detention, the victim was forced to transfer approximately $400,000 in cryptocurrency to the suspects and paid an additional $14,000. At the rescue scene, police discovered tape, knives, handcuffs, and syringes suspected of being used for intimidation. According to police investigation, one of the suspects was previously involved in kidnapping activities for ransom extortion. Two suspects remain at large, and the arrested individuals will face charges of kidnapping and serious illegal detention.