Seven Jailed as UK Gang’s £100K Crypto Extortion Scheme Ends in Arrests

• A UK ring kidnapped and extorted a cryptocurrency investor, demanding £100,000 in numerous attacks from January to November 2023.
• Police rescued the victim on December 2, 2023, after an unidentified tip, finding him injured and restrained with weapons at the scene.
• Crypto-related crimes are rising, with gangs extorting over $1.1 billion in crypto payments in 2023.

A UK-based criminal gang has been sentenced for abducting and extorting a cryptocurrency investor after months of physical and financial abuse. Seven individuals received lengthy prison terms for a series of attacks that began in early 2023, ultimately forcing the victim to transfer approximately £100,000 ($124,152) in cryptocurrency.

Victim Targeted in Repeated Extortion Attempts

The ordeal began in January 2023 when an assailant confronted the victim at his home, demanding cryptocurrency. Fearing for his safety, he complied and transferred funds to Scott Armstrong. 

However, the threats continued. Later that month, David Povey and another man, armed with a knife forced him to hand over more assets. The situation escalated further over the following months. In October 2023, Gary Edwards lured the victim to a flat, where he was restrained, beaten, and confined overnight in a cupboard. Kane Godiff then threatened to kill him, demanding additional funds. 

The final attack took place on November 30, when Edwards forcibly took him from a friend’s house, transported him in a van, and relocated him to another site. The gang’s repeated actions left the victim in fear for his life, with no escape from their ongoing extortion.

Police Intervention Ends Ordeal

Authorities intervened on December 2, 2023, after receiving an anonymous tip regarding the victim’s well-being. Police officers discovered Karl Johnson attempting to flee the scene. Inside, they found the victim visibly injured and pleading for help. His injuries included burns, bruises, and weapon-inflicted wounds.
Crimes targeting cryptocurrency investors have been increasing. Ransomware attacks extorted over $1.1 billion in crypto payments in 2023, according to Chainalysis. A similar case involved the recent kidnapping of Ledger co-founder David Balland in France. He was taken on January 21 and held captive until law enforcement rescued him the following day. His captors had also demanded cryptocurrency payments before authorities intervened.