Kidnapped South African Tycoon Released for 50 Bitcoins Ransom: Report

A South African businessman whose captors had allegedly demanded bitcoins as ransom has been freed.

Liyaqat Parker, a businessman basically basically based entirely in Cape City, South Africa, became released on Monday in step with a assertion issued by his family. However, the conditions of his delivery, in conjunction with whether the bitcoin ransom became paid, stay unclear as his family declined to divulge further data.

In a assertion on Tuesday morning, the family of 65-yr-dilapidated Cape City businessman Liyaqat Parker confirmed he had been returned home after two months. They expressed gratitude to…

— townpress (@townpresssa) September 18, 2018

The Cape City businessman became kidnapped a shrimp bit over two months ago and his captors reportedly demanded 50 bitcoins sooner than they might perhaps delivery him in step with The South African. Parker, who is the proprietor of South Africa’s Foodworld supermarket chain, became accosted at gunpoint by five men as he became driving to his exchange premises. On the time, nonetheless, Parker’s family denied that a ransom interrogate, in bitcoin or otherwise, had been made.

“The family is waiting for the kidnappers to contact them. They’ve now not got contact from any one demanding the leisure,” Walid Brown, a spokesperson for the family acknowledged on the time in step with The Times. “[There has been] a total bunch data from of us who’ve guidelines‚ they’ve had a total bunch of calls however no credible data.”

Replacement to Money

Attributable to its fairly nameless nature, bitcoin has proved popular as a system of paying ransom besides cash. Final yr in December, as an illustration, an analyst at crypto exchange EXMO, Pavel Lerner, became kidnapped within the Ukrainian capital Kiev and a ransom of US$1 million in bitcoin demanded by his captors.

Unlike within the Liyaqat Parker case the build the conditions of his delivery stay unclear, the bitcoin ransom for Lerner became truly paid even though as CCN reported on the time, it became now not clarified whether the ransom became paid by Lerner, his family or his employer. On the time of the incident, the EXMO cryptocurrency exchange had spherical 900,000 users.


This became now not an remoted incident in Europe as a month prior a gang of kidnappers had been busted in Turkey. Among those the Turkish gang had kidnapped included a flashy businessman from whom they stole 450 bitcoins, that had been price approximately extra than US$three million on the time, sooner than releasing him in a trial that lasted about eight hours. The gang had identified him as a target after noticing him showing off his wealth on social media.

Additionally, the Indian instruct of Punjab furthermore witnessed a assortment of kidnappings final yr the build the captors demanded that the ransom be paid in bitcoin. In every instance of the kidnapping wave that became focusing on property sellers largely, a ransom of 20 bitcoins became demanded. The suspected mastermind became out to be a stock market investor and monetary institution employee identified as Deepak, as CCN reported.

Featured image from Shutterstock.

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