A new businessman has been kidnapped and released in South Africa after paying a ransom of 50 Bitcoin, according to local reports. The information has been revealed by townpress on September 18.

 

Kidnappers Request Bitcoin Payments

 

The businessman known as Liyaqat Parker was released on Monday after being kidnapped two months ago. The captors demanded 50 bitcoins in order to release him. In a statement on Tuesday, the family of the businessman confirmed that he had been returned to his home.

 

Parker is the founder of the Food prop Group and part of other businesses. He was kidnapped in July by a gang at a parking lot. There is a worrying trend in the muslim business community in the country, according to the Muslim Judicial Council. For example, Sadeck Zhaun Ahmed was kidnapped from his business in Woodstock in 2017.

 

The statement released by the company reads as follows:

“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.”

 

 

This is not the first time that kidnappers request a ransom to be paid in Bitcoin. We have written in the past that a South African kid known as Katlego Marite, was kidnapped when he was playing near his home. In a note to his family, the kidnappers demanded 15 Bitcoin to release him. As reported by Reuters Africa, the 12-years-old teenager was found close to the place he was kidnapped.

 

Bitcoin has been growing all over the world, but it has clearly affected South Africa. The country has seen an increased adoption from the general public and companies operating in the country. According to Google Trends, the interest for Bitcoin remains the highest in South Africa.

 

There are also several firms that are working with blockchain technology, which is used to power cryptocurrencies. Criminals tend to use Bitcoin because it allows them to easily move funds all over the world with fewer chances of being tracked, recognized and captured. However, the police are able to easily discover individuals behind specific Bitcoin transactions.

 

In general, more sophisticated criminals use cryptocurrencies such as Monero or Zcash, that have enhanced privacy features.

 

Other Criminal Records Around the World

 

Back in December 2017, Pavel Lerner was kidnapped in Ukraine. Captors requested $1 million dollars to be paid in Bitcoin to release him. However, it was not clear whether the ransom for this case was paid by Lerner or other individuals paid for his release. In this way, we can continue commenting about other attacks in many cities all over the world. In the Indian state of Punjab, there have been several individuals kidnapped and released after paying a ransom in Bitcoin.

 

As cryptocurrencies expand, it is also necessary to control and regulate them as some countries are doing. The main intention is to protect investors from experiencing these situations. With clear KYC and AML rules, it is possible to blacklist addresses related to criminal activities.

Buy Cryptocurrency

Carlos Terenzi

I have a Bachelor’s Degree in International Relations and I write about Cryptocurrencies and European Politics. I live between Buenos Aires and Wroclaw.