Kidnapper demands ransom Bitcoin -Crypto Abuse begins in Bangladesh !

 

Photo by: Worldspectrum from pexels

Bitcoin and similar cryptocurrencies adoption is on rise in the world and there are now many countries legalized it as a legal tender. Due to anonymous in nature Criminal gangs are getting more and more creative when it comes to committing a crime.

Recently, on 23^rd September 2020 A Bangladeshi criminal gang kidnapped 8 years old teenaged boy Neyamot ullah Apon and have demanded ransom bitcoin worth about $10000 equivalent to 0.98000000 BITCOIN.

Witness said, the boy was playing with friends at terrace and someone called him introducing himself as friend of his father. The 8-year-old boy was dragged in and driven away from the capital Dhaka and taken to district in south-central Barisal of Bangladesh. The kidnappers declared that they would kill their hostage if bitcoin is not sent at their bitcoin address. Kidnappers also sent the bitcoin address through text message at his mother phone and stated only after the payment, they would let the boy go. His parents however, do not know anything about Bitcoin.

Although police have been successful to rescue the boy after 5 days but they could not apprehend criminals. kidnappings are not so quite uncommon in Bangladesh but this appears to be a very first incident that the ransom demand is made in Bitcoin.

Around the world, criminal gangs are switching over to cryptocurrencies due to the anonymity which they provide. There are currently over 1200 unique cryptocurrencies or altcoins in circulation worldwide. Most of these cryptocurrencies such as Bitcoin is actually entirely anonymous and therefore tracing down the criminal gangs who demands ransom in cryptocurrency is very daunting task.