A South Korean Bitcoin trader has reportedly been robbed at knifepoint of more than HK$3 million (US$523,000)

According to a report by AsiaOne, a South Korean crypto trader in Hong Kong attempted to meet with a Bitcoin seller on the afternoon of July 28. The 39-year-old trader arrived at a building in Tsim Sha Tsui (aka TST), an urban area in southern Kowloon, Hong Kong, for the in-person exchange of cash for BTC.

Instead of ending up with some BTC, however, the victim was approached by four men, one of whom attacked him with a knife. 

The report claims the criminals grabbed a bag from the victim containing roughly HK$3.29 million and ran away. The trader was able to contact authorities in the aftermath, but the police failed to locate the suspects after searching the area. Since he was injured during the robbery, he was sent to a local hospital. 

The AsiaOne report claims the Bitcoin-related robbery was one of several occurring in Hong Kong this year.

In June, a 22-year-old cryptoasset trader was similarly robbed of HK$2 million after attempting to buy Bitcoin in Kwun Tong. The victim was sprayed in the eyes with an unknown substance before being relieved of his cash by three men and a woman. 


The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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