A Venezuelan service provider was kidnapped and killed after his household failed to assemble a ransom that kidnappers explicitly requested to be paid in bitcoin. The perpetrators requested for a sum of 1.5 bitcoin to launch the hostage, later reducing the ransom to zero.5 bitcoin. The household of the sufferer lastly was unable to assemble 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 assemble ransom cash that kidnappers requested be paid in bitcoin. Torres was kidnapped on August 10 when he was presumably heading dwelling within the Zulia state, in accordance with police. The abductors rapidly communicated with Torres’ household and requested to be paid 1.5 bitcoin to launch him, in accordance with local media. Nonetheless, his household was not capable of collect the funds, and in communications with the abductors, managed to decrease the ransom to zero.5 bitcoin.

Nonetheless, this was tragically a sum too hefty for his household to amass, who solely managed to assemble zero.062 bitcoin ($2,750). Torres’ corpse was later found with six gunshot wounds on an area freeway on August 11.

No Obvious Relation With Crypto

Whereas the abductors explicitly acknowledged they’d solely take the ransom cash in bitcoin, Torres had no obvious relation with cryptocurrencies. He was the proprietor of an area ISP web firm within the space, referred to as Tutonet Investments. Nonetheless, it’s unclear if the Venezuelan citizen had any relationship with cryptocurrency mining operations, or if he accepted funds in cryptocurrency for his companies.

The popularity of cryptocurrency within the nation has triggered a rise in scams and crime utilizing these new property. Cryptocurrencies, resulting from their revolutionary design, can generally be tougher to trace than cash moved through conventional fiat avenues. Nonetheless, statistics present that the overwhelming majority of crimes are nonetheless performed by means of fiat cash, and never cryptocurrencies.

This isn’t the primary time that a crime like this has occurred. William Creighton, founding father of a web-based playing website referred to as 5Dimes, was additionally kidnapped in Costa Rica in September 2018. Kidnappers requested for a ransom of $5 million paid in bitcoin, however his household may solely pay $1 million. His physique was present in a close-by cemetery one 12 months later, buried beneath a anonymous tombstone.

What are your ideas on this tragic story? Ought to bitcoin be blamed for violent crimes akin to this one? Inform us within the feedback part beneath.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

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