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A Chinese real estate executive living in Cambodia was killed after kidnappers allegedly demanded $2 million in cryptocurrency from his family, according to local police investigating the case. The victim, identified as 53-year-old Yang Weixin, disappeared from his Phnom Penh residence on May 29 before authorities later found his body inside an abandoned vehicle in the capital’s Dangkor district.
Police said security camera footage showed three men forcing Yang into a vehicle from the parking area of his apartment building at around 8 pm on May 29. Hours later, messages sent from Yang’s phone demanded a cryptocurrency payment from his wife in exchange for his release.
Investigators said the first ransom messages arrived during the early hours of May 30 and sought approximately $2 million in cryptocurrency. Communication reportedly stopped later that morning, and authorities subsequently informed the family that Yang had been found dead.
Early findings from the investigation indicate the victim suffered severe physical abuse before his death. Police recovered blood, knives, tape, plastic restraints, and other evidence from the vehicle and the surrounding area. The case is being investigated as a kidnapping, extortion, and homicide.
This is INSANE
A 53-year-old Chinese businessman, was kidnapped from his apartment on May 29.
And later demanded $2 MILLION in Crypto from his family for ransom.
The ransom was not paid. Authorities say the victim was tortured and killed, and his body was found inside an… pic.twitter.com/uCp9vEHFJN
— Ash Crypto (@AshCrypto) May 31, 2026
Authorities are also examining whether a long-running business dispute may have contributed to the attack. According to statements provided to investigators, Yang had been involved in a financial disagreement with another Chinese national dating back to 2014. Police haven’t identified a confirmed motive, and no arrests have been announced.
The Cambodia case follows a series of crypto-related kidnapping cases reported in France and other jurisdictions during the past year, where attackers sought digital asset payments from wealthy individuals and their families.
In France, authorities have investigated dozens of crypto-related abduction and hostage-taking cases since the beginning of 2025. One of the highest-profile incidents involved Ledger co-founder David Balland, who was kidnapped in January 2025 by attackers seeking a cryptocurrency ransom. Balland was later rescued, and multiple suspects were arrested.
The Cambodia case has also renewed discussion around the risks faced by wealthy business owners and crypto holders whose financial activities become publicly known. Investigators have not disclosed why the kidnappers specifically requested a cryptocurrency payment.
Recent cases in France, the United States, and other countries have involved attackers targeting individuals and their families through kidnapping and extortion rather than attempting to gain access through exchange hacks or online wallet theft.
A Chinese businessman was kidnapped.
The kidnappers demanded $2 million in crypto.
– They knew he had money.
– They knew where to ask.
– When the ransom wasn't paid, he was killed.Most people will call this a crypto story.
It's not.It's a wealth visibility story. The danger… pic.twitter.com/nfvaf0MoYR
— Master of Crypto (@MasterCryptoHq) May 31, 2026
The Cambodia and France cases highlight how some attackers are combining physical violence with cryptocurrency-based extortion demands, a tactic that differs from the online scams and exchange breaches more commonly associated with crypto crime. At the same time, blockchain transactions can provide investigators with financial trails that don’t exist in traditional cash-based ransom schemes.
Police continue to review surveillance footage, communication records, and evidence recovered from the vehicle as they work to identify the suspects involved in Yang’s killing. No arrests have been made.
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