Bitcoin and other cryptocurrencies have always been appealing to criminals. Whereas most of the illegal activity takes place online, that is not always the case. In South Africa, a kidnapping of a 12-year-old child is making headlines. This is mainly because the kidnappers have demanded a 15 Bitcoin ransom prior to releasing the child.
Another Bitcoin-related Kidnapping
In the world of criminal activity, covering one’s tracks is not all that easy. This is especially true when dealing with payment methods which are far too easy to trace these days. For criminals, this means that using traditional payment methods is pretty much out of the question. That is why Bitcoin and other cryptocurrencies are so appealing these days, as they seemingly provide a more anonymous option.
In South Africa, a very worrisome trend has begun to emerge over the past few years. It seems there has been a major increase in kidnappings involving a Bitcoin ransom. Given the perceived anonymity of Bitcoin, criminals consider this payment method far more appealing than other solutions. Even so, it doesn’t mean they will be successful in their attempts to obtain the world’s leading cryptocurrency.
An ongoing kidnapping in South Africa is making headlines right now. Three individuals have been taken into custody for their alleged involvement in the kidnapping of a twelve-year-old child. This abduction took place several days ago, yet the matter has not been resolved as of yet. It is unclear if these three individuals have any connection to the kidnapping or are innocent bystanders at this point.
So far, no official arrests have been made, and no charges have been filed, according to local sources. Additionally, the kidnappers have not been in contact with the child’s parent ever since making the 15 Bitcoin ransom demand. According to the kidnappers, failure to comply with their request will result in the child being hung and decapitated.
No further instructions regarding the Bitcoin ransom have been provided at this point. While the parents received this ransom note personally, it remains unclear if they will buy the cryptocurrency amount required to satisfy the kidnappers’ needs. Even so, paying 15 BTC is not a guarantee that the kidnappers will release the child.
All of this shows that criminals continue to favor cryptocurrency, even though it won’t serve their purposes whatsoever. That’s because various blockchain analysis firms keep close tabs on the Bitcoin network to monitor suspicious transactions. As such, they can identify senders and recipients of money. Bitcoin is not an anonymous payment method by any means, yet stories like these continue to give the world’s leading cryptocurrency a bad name.