Wouldn't it be easier to commit these crimes with cash? Unless these organizations are part of a huge money laundering network, it is difficult to convert these Bitcoins into cash without being caught and compared to cash crimes. Such crimes are still limited, but they alert us to the necessity of privacy and not disclosing what Bitcoins we own.Logically, cash is easier to rob, but the potential of Bitcoin is more interesting... a robber can rob a large amount of money without needing a backpack with Bitcoin... even digital transactions make it easier to get money...
Wouldn't it be easier to commit these crimes with cash? Unless these organizations are part of a huge money laundering network, it is difficult to convert these Bitcoins into cash without being caught and compared to cash crimes. Such crimes are still limited, but they alert us to the necessity of privacy and not disclosing what Bitcoins we own.
I dont think that increased privacy would help to fight with kidnapping and ransom. What stops a criminal to kidnap a random person that seems to be having a family or someone that has a friend. Family and a friend would do everything anyway to save kidnapped person. Rich or poor will be forced to find and pay anyway. For kidnapper it will be at the same, to kidnap a millionaires child or average class persons child and ask for a $1 million ransom. A life is a life and anyone would do everything to get that money and help their child.
Logically, cash is easier to rob, but the potential of Bitcoin is more interesting... a robber can rob a large amount of money without needing a backpack with Bitcoin... even digital transactions make it easier to get money...Yes, such crimes can happen with cash, bitcoin, visa, gold or any form of money. So I think such articles are biased towards bitcoin, but again privacy is important and you should not show your balance to others.
I dont think that increased privacy would help to fight with kidnapping and ransom. What stops a criminal to kidnap a random person that seems to be having a family or someone that has a friend. Family and a friend would do everything anyway to save kidnapped person. Rich or poor will be forced to find and pay anyway. For kidnapper it will be at the same, to kidnap a millionaires child or average class persons child and ask for a $1 million ransom. A life is a life and anyone would do everything to get that money and help their child.
OP is not talking about random kidnapping.
OP's lists are crypto holders who ar kidnapped and the kidnappers specifically asked them BTC for the ransom which means these kidnappers are targeting crypto holders.
It would have been avoided if they were not known to own Bitcoin. They were just too carefree to just let everyone know they are crypto owners.
Wouldn't it be easier to commit these crimes with cash?
In Pakistan, seven individuals including a Counter-Terrorism Department officer were arrested on 3rd of January for kidnapping a local crypto trader. The victim was Mohammed Arsalan who was kidnapped on 25th of December and he was forced to transfer 340,000 on his Binance account.Cases are increasing day by day, and why this is happening now is also understandable because the market is very bullish and maybe these criminals think all the investors are making a good amount of money right now. I remember I invested a few hundred dollars in BTC and told my cousin, and he shared it with everyone almost, and even in some gatherings, he said he would have made good profits as BTC had not crossed $100k. I did not understand what to say, as in gatherings all people are family, so it does not matter.
https://cointelegraph.com/news/crypto-s-record-breaking-year-sees-spike-in-kidnappings-and-ransom-schemes
I dont think that increased privacy would help to fight with kidnapping and ransom. What stops a criminal to kidnap a random person that seems to be having a family or someone that has a friend. Family and a friend would do everything anyway to save kidnapped person. Rich or poor will be forced to find and pay anyway. For kidnapper it will be at the same, to kidnap a millionaires child or average class persons child and ask for a $1 million ransom. A life is a life and anyone would do everything to get that money and help their child.
OP is not talking about random kidnapping.
OP's lists are crypto holders who ar kidnapped and the kidnappers specifically asked them BTC for the ransom which means these kidnappers are targeting crypto holders.
It would have been avoided if they were not known to own Bitcoin. They were just too carefree to just let everyone know they are crypto owners.
If you flash your money in wrong place and in front of wrong people, it does not matter if you are a crypto holder or a person with $100 banknote, as chances of being robbed or getting troubles increase greatly. I am not saying that we should not stay cautious all the time now, but in the article its only several cases, even more cases can be found if we make a search. But compared to the number of none-crypto, that isnt much to do something extra for privacy measures. Take a look on what is happening West Africa: +100k cases only during last year. Dont get me wrong. I am not saying that now we should deanonymize ourselves, show documents or accounts and wallets we have everywhere. I am only saying that reckless people with money will always find troubles. And people dont have to be exactly rich to get into problems with money.
I'm still not sure why they'd want that amount of payments in crypto, but that's besides the point, it's sad to see all of these happening.
They'd want ransom in crypto because they'll mix it to make it anonymous. It's sad to see these bad things happening but it won't stop we'll read about them more.I'm still not sure why they'd want that amount of payments in crypto, but that's besides the point, it's sad to see all of these happening.
Wouldn't it be easier to commit these crimes with cash? Unless these organizations are part of a huge money laundering network, it is difficult to convert these Bitcoins into cash without being caught and compared to cash crimes. Such crimes are still limited, but they alert us to the necessity of privacy and not disclosing what Bitcoins we own.
The thing is that if you are in crypto, you better not tell the public or don't flaunt your crypto in you social media otherwise you will be the target of crypto criminals.
We have heard a lot of this kidnappers lately, it's good that if they will keep their victims alive after they pay. But the worst is that they will unalive them and you can't trace the money because they are going to launder it or hide it from authorities.
Stories about kidnappings worry ppl so it's right they shouldn't flaunt their crypto in public. If they're posting about crypto savings in social media they'll face problems. They've got keep some things private or else their inviting danger.The thing is that if you are in crypto, you better not tell the public or don't flaunt your crypto in you social media otherwise you will be the target of crypto criminals.
We have heard a lot of this kidnappers lately, it's good that if they will keep their victims alive after they pay. But the worst is that they will unalive them and you can't trace the money because they are going to launder it or hide it from authorities.
CEOs o crypto projects won't be able to stop themselves from posting though. its part of their job to tweet and show off what they do in the industry.
i think those people who also joins the bounty campaigns where they are to tweet and retweet on several social media accounts, so if they are using their real accounts, they are also in sort danger. and if these kidnappers learns how small the coins they hold, they will just kill these guys since they can;t pay the demands the kidnappers are asking. too bad they show off they have tons of coins.
Wouldn't it be easier to commit these crimes with cash? Unless these organizations are part of a huge money laundering network, it is difficult to convert these Bitcoins into cash without being caught and compared to cash crimes. Such crimes are still limited, but they alert us to the necessity of privacy and not disclosing what Bitcoins we own.Logically, cash is easier to rob, but the potential of Bitcoin is more interesting... a robber can rob a large amount of money without needing a backpack with Bitcoin... even digital transactions make it easier to get money...
Privacy is really something that must be protected, everyone has their own privacy... and strangely enough showing off wealth publicly just to want to be recognized by others, has more negative impacts than positive impacts... so stop showing your balance on social media... it's really useless, even if you write it just for motivation, but
CEO's don't have to stop posting it's their job they're expected to work but ordinary ppl using forums & social media better get used to limiting info about themselves. If they're holding coins for bounties they'll promote it but they'll be at risk of kidnappers but ppl using forums haven't been kidnapped.I also believe that most ceo's will be able to pay for security, especially the big ones, they would also have security advisers and stuffs like that. However, 'ordinary' people may not be afforded that luxury, so it is better to start by keeping shut about what you have, privacy is very important and can save you from losses.
CEO's don't have to stop posting it's their job they're expected to work but ordinary ppl using forums & social media better get used to limiting info about themselves.When limiting information about yourself, it should not just be to people online because the people online are individuals offline as well, so you also have to be careful with offline individuals and what you tell them concerning yourself because by exposing or divulging too much information about yourself, you may be just putting yourself at risk. If your friends and family who you have told too much information about yourself do not directly attack you, it is not impossible for them to orchestrate and plan with other people from outside to do the evil on their behalf.
Re: Increasing kidnapping and ransom. Privacy is important.I guess these isn't only applicable on people that are involved into crypto, but to all people in general.
CEO's don't have to stop posting it's their job they're expected to work but ordinary ppl using forums & social media better get used to limiting info about themselves. If they're holding coins for bounties they'll promote it but they'll be at risk of kidnappers but ppl using forums haven't been kidnapped.I also believe that most ceo's will be able to pay for security, especially the big ones, they would also have security advisers and stuffs like that. However, 'ordinary' people may not be afforded that luxury, so it is better to start by keeping shut about what you have, privacy is very important and can save you from losses.
CEO's don't have to stop posting it's their job they're expected to work but ordinary ppl using forums & social media better get used to limiting info about themselves. If they're holding coins for bounties they'll promote it but they'll be at risk of kidnappers but ppl using forums haven't been kidnapped.I also believe that most ceo's will be able to pay for security, especially the big ones, they would also have security advisers and stuffs like that. However, 'ordinary' people may not be afforded that luxury, so it is better to start by keeping shut about what you have, privacy is very important and can save you from losses.
It's more on us, I do remember that during like in 2018, everyone says that we should promote crypto. But now, it's the opposite, if we are into crypto, then we should be quiet and not talk about it in public.
For CEO's I remember one story though, that he was followed at home and was force to spill out the private keys of the holdings of his company and some other crypto as well. So not all of them hire bodyguards to protect them in and outside of their office.
rumor just yesterday was that a co founder of Ledger David Balland was kidnapped as well. his door was kicked and he was dragged out and kept for days demanding his coins. it happened in France.It is not a rumor, it actually happened, David Balland and his wife were kidnapped and taken to different locations, Balland is a co-founder of Ledger. The kidnappers then contacted another co-founder and requested $10m in usdt, which they got, but before getting it, they had already cut off one of Balland's finger.
rumor just yesterday was that a co founder of Ledger David Balland was kidnapped as well. his door was kicked and he was dragged out and kept for days demanding his coins. it happened in France.
he was only released because of police intervention. crypto users are going to be the target sooner.
rumor just yesterday was that a co founder of Ledger David Balland was kidnapped as well. his door was kicked and he was dragged out and kept for days demanding his coins. it happened in France.It is not a rumor, it actually happened, David Balland and his wife were kidnapped and taken to different locations, Balland is a co-founder of Ledger. The kidnappers then contacted another co-founder and requested $10m in usdt, which they got, but before getting it, they had already cut off one of Balland's finger.
Good thing is that Balland and his wife were rescued and the stolen funds in usdt were frozen and recovered by tether issuers. So the kidnappees got nothing and they have been arrested.
rumor just yesterday was that a co founder of Ledger David Balland was kidnapped as well. his door was kicked and he was dragged out and kept for days demanding his coins. it happened in France.
he was only released because of police intervention. crypto users are going to be the target sooner.
Less famous crypto ppl can't rely on police finding them if they get kidnapped.I believe it's better for them to not rely on the police in the first place. If you're not famous and don't work in crypto publicly, it is easier to stay anonymous when dealing with crypto. I doubt these kidnappers would target random strangers unless they're certain they have a good amount of money in their wallet, to begin with. I'm not sure how it is in other countries, but in my country, most people don't trust the police to do their job properly unless they're dealing with a high-profile case. Even then, lack of transparency and dubious trial results make us skeptical that the government can help us when it matters the most.
I believe it's better for them to not rely on the police in the first place. If you're not famous and don't work in crypto publicly, it is easier to stay anonymous when dealing with crypto. I doubt these kidnappers would target random strangers unless they're certain they have a good amount of money in their wallet, to begin with. I'm not sure how it is in other countries, but in my country, most people don't trust the police to do their job properly unless they're dealing with a high-profile case. Even then, lack of transparency and dubious trial results make us skeptical that the government can help us when it matters the most.