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Crypto expert kidnapped, had to pay $1 million BTC ransom

$1 million in Bitcoin paid when cryptocurrency expert was kidnapped

By Anthony Garreffa on Dec 30, 2017 06:35 pm CST - 0 mins, 45 secs reading time

Pavel Lerner was kidnapped earlier this week, with a gang wearing ski masks taking the cryptocurrency expert near his office in the Ukraine.

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Lerner was held against his will, with the kidnappers demanding he pay them $1 million in Bitcoin as ransom. Lerner is a big Bitcoin expert in his country, doubling as an executive at Exmo, a large cryptocurrency exchange.

We don't know if Lerner transferred the $1 million in BTC himself, but he was released in the end. Exmo has said that the kidnappers didn't breach their network, and that the cryptocurrency exchange and their coins are "absolutely safe.

As for the $1 million in BTC that the kidnappers transferred, they're most likely shifted through the entire Bitcoin network, or could've been sold and the kidnappers are enjoying their money. Whatever has happened, this is the future of crime: cryptocurrency is easier to withdraw from victims' accounts than money.

Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games to be built around consoles. With FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with high-end, custom-built PCs. His addiction to GPU technology is unwavering, and with next-gen NVIDIA GPUs about to launch alongside 4K 144Hz HDR G-Sync gaming monitors and BFGDs (65-inch 4K 120Hz HDR G-Sync TVs) there has never been a time to be more excited about technology.

NEWS SOURCE:engadget.com

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