Gun-wielding crooks torture crypto trader with drill in front of daughter, 4

A group of criminals tortured a cryptocurrency trader with a drill in front of his four-year-old daughter, police in Holland claim.

Investigators say the trader’s home was raided by gun-wielding crooks looking for cryptocurrency.

Three robbers disguised as police entered the victim’s home in Drenthe in the north-east of the country, Dutch publication De Telegraaf reported.

The victim was also threatened with a firearm during his hour-long ordeal.

The thieves then fled in a getaway car.

Police did not identify the victim. It is not believed any cryptocurrency was stolen during the raid.

De Telegraaf reported the victim is a director of Travelflex, a travel finance firm with its own cryptocurrency, the Travelflex.

Travelflex links the travel industry and cryptocurrrency with a stated aim to make travel cheaper and safer.

A spokesperson for Northern Netherlands Police told The Independent that the investigation is ongoing.

Crypto crime fears

There are concerns the high level of online security offered by Bitcoin and other cryptocurrencies will lead to a rise in violent crime against holders and traders.

In October, Norwegian tech entrepreneur Heikki Bjorklund Paltto, 24, was found dead by his room-mate in his Oslo apartment after a suspicious cryptocurrency transaction.

Police in the French city of Dijon arrested 20-year-old Makaveli Linden on suspicion of murder.

Detectives indicated that the motive behind the crime was the theft of a Bitcoin wallet.

He is currently awaiting extradition to Norway.