Court sentences gang to 76 years in prison for extorting $124,000 from crypto investor

Seven members of a criminal group who kidnapped and tortured a cryptocurrency investor were sentenced at Manchester Crown Court on January 30, 2025. The court found them guilty of kidnapping, extortion, violence and possession of a weapon, writes the Warrington Guardian.

The criminals attacked the victim for a year, demanding cryptocurrency from her. In January 2023, the attackers first came to the man's house and began demanding money.

Later, they returned with a knife and continued the extortion. In the fall of the same year, the violence intensified. The victim was lured into an apartment, beaten and locked in a closet, and then threatened to kill him if he did not transfer the money again.

In November 2023, the man was kidnapped again, a bag was put over his head and subjected to new torture. On December 2, the police received an anonymous tip and found him in a locked apartment with signs of burns and beatings. Weapons, knives and ropes used by the criminals were found in the house.

According to the police, the man «begged» them to take him with them. He feared that the kidnappers could return at any moment.

In total, the victim was tortured and threatened to have more than $124,000 in digital assets taken from him.

The main defendants in the case, Jonathan Nunes and David Povey, each received 20 years in prison. The remaining members of the gang received sentences ranging from 2 to 13 years. In total, the group received a total of 76 years in prison.

In 2023, criminal groups earned more than $1.1 billion from cryptocurrency extortion, according to Chainalysis. At the same time, cases of kidnapping of crypto investors have become more frequent in recent months, according to cybersecurity experts.

Earlier it became known that the French police rescued the co-founder of Ledger after kidnapping. David Balland and his wife were kidnapped on January 21, 2025. The main goal of the criminals was to obtain crypto assets owned by the entrepreneur.