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A court in Belgium has issued 12-year prison sentences to three individuals involved in the December 2024 kidnapping of the wife of a local cryptocurrency entrepreneur.

The case, which has drawn attention within both legal and crypto communities, centers on a ransom demand made in digital assets, highlighting the growing concerns about the intersection of financial technology and physical security.

Court Ruling and Ongoing Investigations

The Brussels Criminal Court found the trio guilty of hostage-taking after abducting the victim outside her residence and forcing her into a van. The kidnappers reportedly demanded a crypto ransom in exchange for her release.

Authorities acted swiftly after the woman’s husband, Stéphane Winkel, a known figure in the local crypto education scene, alerted law enforcement. Police intercepted the vehicle and executed a high-risk maneuver to halt it, freeing the victim and apprehending the suspects.

In addition to the prison terms, the court ordered the convicted individuals to pay a civil compensation of at least €1 million (approximately $1.2 million) to the victim. While the sentences mark the legal conclusion for the three kidnappers, the case remains open in some respects.

The court acknowledged that the principal figures behind the orchestration of the crime are still unknown. The defendants’ claims that they were acting under duress, allegedly threatened with death if they did not carry out the kidnapping, were dismissed by the court.

The case also involves a minor, whose role is being addressed separately through Belgium’s juvenile justice system. According to reports from La Dernière Heure, the court emphasized the seriousness of the offense and the need to maintain deterrence, particularly in criminal activities intersecting with emerging financial sectors like crypto.

The victim and her family have not been named in detail in court documents to protect their privacy, but the psychological toll has reportedly been substantial.

The Effect on Winkel Family and Crypto Community

Stéphane Winkel is known for his educational efforts within the cryptocurrency space. He runs platforms such as Crypto Académie and Crypto Sun, which aim to make digital asset investing more accessible to the public.

His YouTube channel, which has roughly over 39,000 subscribers, typically featured tutorials, giveaways, and wallet walkthroughs. However, the traumatic incident has prompted a shift in both his personal and public life.

In a post on X  published shortly after the incident, Winkel stated, “I consider myself a defender of freedom, but I now realize that safety must become an absolute priority for me and those around me.”

He also pledged to avoid public wallet demonstrations or promotional giveaways going forward, instead focusing his content on market analysis and education.

After several months of silence, Winkel returned to YouTube in June 2025, opting for voice-only narration in his videos rather than appearing on camera, a move that aligns with his new emphasis on privacy and security.

Featured image created with DALL-E, Chart from TradingView

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As Bitcoin (BTC) struggles amid the latest crypto market pullback – failing to decisively break past the $84,000 resistance – gold (XAU) continues its impressive rally, soaring to a record high of $3,000 per ounce on March 14.

Bitcoin Gets Outshined By Gold

2025 has started on a shaky note for the world’s largest cryptocurrency. BTC is down over 10% year-to-date (YTD), falling from approximately $94,000 on January 1 to around $84,000 at the time of writing. On the flip side, gold has surged nearly 13% in the same period.

Related Reading

Market analyst Northstar shared the following chart on X yesterday, illustrating the BTC-to-gold ratio over the past 12 years. According to the chart, BTC is beginning to break below a critical support line that has held strong for more than a decade.

If Bitcoin sustains price action below this support line for several weeks or months, it could signal the end of the current crypto bull run. BTC’s underperformance against gold is also evident in the contrasting capital flows into BTC and gold exchange-traded funds (ETFs).

According to data from the World Gold Council, US-based spot gold ETFs have attracted inflows exceeding $6 billion YTD. Globally, spot gold ETFs have seen more than $23 billion in inflows.

Meanwhile, data from SoSoValue indicates that US-based spot BTC ETFs have experienced nearly $1.5 billion in net outflows YTD. This sharp contrast in capital movement reflects a shift in investor strategy from risk-on to risk-off assets.

Several factors may explain investors’ growing aversion to risk-on assets, including US President Donald Trump’s new trade tariffs, the US Federal Reserve’s (Fed) hawkish monetary policy, and the recent stock market rout.

Is The Crypto Bull Run Over?

BTC’s underperformance relative to gold casts doubt on the longevity of the current crypto bull market. The total crypto market cap has shed over $600 billion since the start of the year, now standing at approximately $2.8 trillion.

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Renowned gold advocate Peter Schiff argues that BTC has already been in a bear market for the past three years. In an X post, Schiff stated:

One Bitcoin now buys 27.7 ounces of gold. At its peak in 2021, one Bitcoin bought 36.3 ounces of gold. That means that in terms of gold, which is real money, the price of Bitcoin has fallen by 24%. So Bitcoin has been in a stealth bear market for the past three and a half years.

That said, positive macroeconomic developments could still turn the tide in BTC’s favor. For example, US inflation appears to be cooling, which may pressure the Fed to pivot toward quantitative easing and boost market liquidity –  a potential boon for risk-on assets.

Likewise, a breakdown in the US dollar index could reignite optimism for assets like stocks and cryptocurrencies. At press time, BTC trades at $84,902, up 3.8% in the past 24 hours.

Featured image from Unsplash, charts from X and TradingView.com