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50 Bitcoins demanded as ransom for Kidnapped Businessman

Pooja
Pooja

The famed businessman from Cape Town, South Africa who was demanded with 50 bitcoins as ransom has been released.

As per reports, the businessman Liyaqat Parker who was captivated two months back was freed on Monday. The news came into light when family revealed about his release on Tuesday in a public statement. The excerpt of the statement reads as below

“The Parker family wishes to express their sincere gratitude to everyone who has walked this journey with them and provided physical‚ emotional and spiritual support. It is truly appreciated.

The family is relieved that he is back and would like to request the media and public to respect their privacy during this difficult time.

However, the actual bitcoin payment as ransom to captivators was nowhere mentioned in the statement and when inquired his family declined to reveal any further info.

The businessman who was well known for his charity work was founder of Food Prop Group and was kidnapped at a gunpoint by a gang of five men at his company’s basement parking lot on 9th July.

It is no doubt that anonymous nature of bitcoin has made viable option to choose as ransom by the kidnappers. But this is not the first instance where cryptocurrencies are demanded as ransom earlier this year we heard  of 15 bitcoin as ransom demand for kid in South Africa.

Also, in an isolated incident in Europe a gang of kidnappers had been busted in Turkey. Among those the Turkish gang had kidnapped included a flashy businessman from whom they stole 450 bitcoins, which were worth approximately more than US$3 million at the time.

All these incidents are clear indication that with all decentralized power as advantage, the cryptocurrencies are prone to be misused by fraudulent people.

What do you think of this news of bitcoin ransom demand? Share your thoughts in the comment below

 

BitcoinBTCcryptosouthafrica

Pooja

Lead writer at Wolfcone.com and avid reader. My interests lie in everything and anything related to technology. I firmly believe cryptocurrency has the power to revolutionize world economy and blockc