Bitcoin demand in Nancy Guthrie disappearance shows how crypto is becoming a more frequent feature of physical crimes. The senders demanded millions of dollars to be paid in Bitcoin. It did, however, mention that physical crimes involving crypto have gone up.
The demand for Bitcoin in Guthrie’s kidnapping comes amid an uptick of violent incidents in which criminals have targeted crypto owners, including notable cases occurring recently in Paris and New York. These attacks, known as “wrench attacks”, typically target people who have publicly revealed they own a sizable stash of crypto. There is no evidence Nancy Guthrie is a crypto owner and, if the random note is genuine, the kidnappers appear to be relying on the partial anonymity offered by Bitcoin.
A recent kidnapping case demonstrates criminals demanding Bitcoin as ransom, illustrating how crypto is becoming a feature of physical crime. The note cited a multi-million dollar Bitcoin payment, signaling the currency’s appeal for illicit purposes. The development aligns with a reported uptick in crypto-related crimes and violence targeting crypto owners.
Attacks termed wrench attacks have targeted individuals who publicly disclose sizable crypto holdings, with high-profile incidents in Paris and New York cited as context. This trend underscores the broader implications for crypto users and authorities, highlighting increased exposure of crypto to criminal activity and the need for heightened security and vigilance.
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