Fun

Kidnappers Kill Venezuelan Citizen for Not Paying Ransom Requested in Bitcoin

News Feed - 2021-08-14 06:08:43

Kidnappers Kill Venezuelan Citizen for Not Paying Ransom Requested in Bitcoin


A Venezuelan merchant was kidnapped and killed after his family failed to gather a ransom that kidnappers explicitly asked to be paid in bitcoin. The perpetrators asked for a sum of 1.5 bitcoin to release the hostage, later lowering the ransom to 0.5 bitcoin. The family of the victim finally was unable to gather the ransom money. Venezuelan Citizen Abducted, Bitcoin Ransom Demanded


A Venezuelan citizen identified as Gustavo Torres González was murdered yesterday when his family failed to gather ransom money that kidnappers requested be paid in bitcoin. Torres was abducted on August 10 when he was presumably heading home in the Zulia state, according to police. The kidnappers quickly communicated with Torres’ family and asked to be paid 1.5 bitcoin to release him, according to local media. However, his family was not able to gather the funds, and in communications with the kidnappers, managed to lower the ransom to 0.5 bitcoin.


Still, this was tragically a sum too hefty for his family to acquire, who only managed to gather 0.062 bitcoin ($2,750). Torres’ corpse was later discovered with six gunshot wounds on a local highway on August 11. No Apparent Relation With Crypto


While the kidnappers explicitly stated they would only take the ransom money in bitcoin, Torres had no apparent relation with cryptocurrencies. He was the owner of a local ISP internet company in the area, called Tutonet Investments. However, it is unclear if the Venezuelan citizen had any relationship with cryptocurrency mining operations, or if he accepted payments in cryptocurrency for his services.


The popularity of cryptocurrency in the country has caused an increase in scams and crime using these new assets. Cryptocurrencies, due to their innovative design, can sometimes be more difficult to track than money moved via traditional fiat avenues. Still, statistics show that the overwhelming majority of crimes are still conducted by way of fiat money, and not cryptocurrencies.


This is not the first time that a crime like this has happened. William Creighton, founder of an online gambling site called 5Dimes, was also kidnapped in Costa Rica in September 2018. Kidnappers asked for a ransom of $5 million dollars paid in bitcoin, but his family could only pay $1 million. His body was found in a nearby cemetery one year later, buried beneath a nameless tombstone.


What are your thoughts on this tragic story? Should bitcoin be blamed for violent crimes such as this one? Tell us in the comments section below. Global Charity Organization Launches Crypto-Based Vouchers for Vulnerable Groups in Kenya, Ecuador EMERGING MARKETS | 13 hours ago Bank of Ghana Selects German Technology Firm as Partner for CBDC Project EMERGING MARKETS | 2 days ago Tags in this story abduction, assassination, Bitcoin, Cryptocurrency, kidnap, ransom, Venezuela


Image Credits: Shutterstock, Pixabay, Wiki Commons Show comments

News Feed

Economist David Rosenberg Warns of ‘Crash Landing’ and Recession, Citing Fed Data
Economist David Rosenberg Warns of "Crash Landing" and Recession, Citing Fed Data Famed economist David Rosenberg has warned of a “crash landing” and an impending reces
MicroStrategy raises convertible notes offering to $700M amid stock rally
Zhiyuan Sun6 hours agoMicroStrategy raises convertible notes offering to $700M amid stock rallyThe firm had previously announced a $600 million convertible raise on March 4.1390 Total views42 Total sharesListen to articl
Disgraced FTX Co-Founder Accused of Moving $684K in Crypto Assets While Under House Arrest
Disgraced FTX Co-Founder Accused of Moving $684K in Crypto Assets While Under House Arrest According to an analyst on Dec. 29, 2022, the disgraced co-founder of FTX, Sam Bankman-Fr
JPMorgan Sees $600 Billion Demand for Bitcoin From Global Institutional Adoption
JPMorgan Sees $600 Billion Demand for Bitcoin From Global Institutional Adoption JPMorgan’s analysts have predicted significant demand for bitcoin followin
Decentralized dilemma: Could Ethereum survive if SEC ruled ETH a security?
Daniel Ramirez-Escudero8 hours agoDecentralized dilemma: Could Ethereum survive if SEC ruled ETH a security?U.S. regulators have yet again injected uncertainty into the crypto markets by assessing whether Ethereum is a s
Price analysis 3/29: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX, SHIB, TON
Rakesh Upadhyay6 hours agoPrice analysis 3/29: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX, SHIB, TONBitcoin is struggling to sustain above $70,000, indicating that the long-lasting rally could be tiring out.2265 Total view
GensoKishi Online “Meta World” Is Set to Transform Blockchain Gaming With Innovative Metaverse
GensoKishi Online "Meta World" Is Set to Transform Blockchain Gaming With Innovative Metaverse sponsored Metaverse is the trending concept in the blockchain industry due to its mass
How high can Bitcoin go? New BTC price prediction sees cycle top at $180K
Zoltan Vardai1 hour agoHow high can Bitcoin go? New BTC price prediction sees cycle top at $180KBTC price can more than double in price this cycle, thanks to Bitcoin ETFs, next month"s halving, and easing monetary condit
Solana Taps Another All-Time High Eclipsing Dogecoin’s Market Cap, SOL Jumped Over 300% Last Month
Solana Taps Another All-Time High Eclipsing Dogecoin"s Market Cap, SOL Jumped Over 300% Last Month Crypto assets have seen significant gains over the last month and one such digita
Researchers Uncover Bitcoin ‘Attack’ That Could Slow or Stop Lightning Payments
The bitcoin lightning network could be vulnerable to a simple and disruptive attack, according to a recent research paper. Written by Saar Tochner, Aviv Zohar, and Stefan Schmid,
LUNA 2.0 Token Jumps 200% Higher Against the US Dollar in 24 Hours
LUNA 2.0 Token Jumps 200% Higher Against the US Dollar in 24 Hours While digital currencies jumped in value during the early morning trading sessions on Friday (ET), the new Terra
SaTT Smart Advertising Token Announces Listing on Leading Crypto Exchanges, KuCoin and Uniswap
SaTT Smart Advertising Token Announces Listing on Leading Crypto Exchanges, KuCoin and UniswapSingapore, 18th September, 2020– Smart advertising marketplace SaTTis proud to an