Kidnappers kill Venezuelan citizen for failing to pay ransom demanded in Bitcoin – rising markets bitcoin information

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A Venezuelan service provider was kidnapped and killed after his household didn’t muster a ransom that the abductors explicitly demanded to be paid in bitcoin. The authors demanded a sum of 1.5 bitcoin to free the hostage, then decreasing the ransom to 0.5 bitcoin. The sufferer’s household was in the end unable to lift the ransom cash.

Venezuelan citizen kidnapped, bitcoin ransom demanded

A Venezuelan citizen recognized as Gustavo Torres González was murdered yesterday when his household failed to gather the ransom cash the abductors demanded to be paid in bitcoin. Torres was kidnapped on August 10 whereas presumably returning house in Zulia state, police mentioned. The abductors shortly contacted Torres’ household and demanded to be paid 1.5 bitcoin to launch him, in accordance with native media. Nevertheless, his household have been unable to lift the funds and, in communications with the abductors, managed to scale back the ransom to 0.5 bitcoin.

But it was tragically an excessive amount of to amass for his household, who solely managed to lift 0.062 bitcoin ($ 2,750). Torres’ corpse was later found with six gunshot wounds on an area freeway on August 11.

No obvious relationship with crypto

Whereas the abductors have explicitly said that they’ll solely take the ransom cash in bitcoin, Torres had no obvious relationship to cryptocurrencies. He was the proprietor of an area ISP web firm within the space known as Tutonet Investments. Nevertheless, it’s not clear whether or not the Venezuelan citizen had a relationship with cryptocurrency mining operations, or whether or not he accepted cryptocurrency funds for his companies.

The recognition of cryptocurrency within the nation has brought on a rise in scams and crime utilizing these new belongings. Cryptocurrencies, because of their progressive design, can typically be tougher to trace than cash moved by way of conventional fiat channels. But statistics present that the overwhelming majority of crimes are nonetheless perpetrated utilizing fiat cash, not cryptocurrencies.

This isn’t the primary time {that a} crime like this has occurred. William Creighton, founding father of a web-based playing website known as 5Dimes, was additionally kidnapped in Costa Rica in September 2018. The abductors demanded a ransom of $ 5 million paid in bitcoin, however his household was solely capable of pay $ 1 million. His physique was present in a close-by cemetery a 12 months later, buried underneath an unnamed headstone.

What do you consider this tragic story? Ought to bitcoin be blamed for violent crimes like this? Inform us within the feedback part under.

Picture credit: Shutterstock, Pixabay, Wiki Commons


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