Kidnapping for Bitcoin: Woman Forged Links to Saudi Royal Family and Extorted $40,000

A recent incident has spotlighted the intersection of crime and cryptocurrency, as reported by Decrypt on December 16. A 24-year-old woman, Catherine Colivas, along with three accomplices, reportedly kidnapped a member of the Saudi Arabian royal family and demanded a ransom of $40,000 in Bitcoin. Despite her guilty plea to multiple charges, including kidnapping and extortion, Colivas received a community correction order, sparking discussions on the adequacy of penalties for such serious offenses.

The alarming event unfolded after Colivas met the royal family member via a dating app, subsequently leading him into a dangerous situation. Following a social outing, he was ambushed at her residence by her accomplices. The victim—a known cryptocurrency trader—was coerced into transferring Bitcoin to secure his release. Once freed, he promptly reported the crime to the authorities and sought medical attention for his injuries, emphasizing the physical risks associated with such criminal activities in the crypto sector.