UPDATE: Phuket Court Sentences Five Russians to Two Years for Crypto Extortion

PHUKET – In a notable case of extortion involving cryptocurrency, the Phuket Provincial Court has sentenced five Russian nationals to two years of imprisonment. The individuals were convicted of threatening a fellow Russian couple and coercing them into transferring 30 million baht in cryptocurrency.

Our previous stories:

A group of Russian men allegedly threatened a Russian couple and took them onto a van against their will to try to extort them for 30 million Baht in Bitcoins in Phuket.

Five foreign suspects are being held in custody after they were allegedly involved in an extortion attempt on a Russian couple for crypto-currency.

Now for the update:

The court’s decision, announced on Wednesday, came after the accused were found guilty of extortion. They initially faced a potential four-year sentence for their actions, which involved instilling fear of harm to the victims’ person, freedom, and property.

Despite the gravity of the charges, the court reduced the sentence to two years following the suspects’ admission of guilt. The reduction also took into account the fact that the perpetrators, being tourists, had committed a serious crime against compatriots.

The case has drawn attention to the emerging challenges posed by digital currencies and the need for robust legal frameworks to address such transgressions. The court’s ruling underscores a commitment to upholding justice, even as it navigates the complexities of crimes in the digital age.

The original version of this article appeared on our sister website, The Phuket Express, owned by our parent company TPN media.