South Africa Kidnappers Demand Ransom In Bitcoin To Free Teen

May 23, 2018 1:33 pm Published by

Reuters reports kidnappers who abducted a teenage boy Sunday in South Africa are demanding the $120,000 ransom be paid in bitcoin, police said.

Katlego Marite, 13, was dragged into a car while playing with two friends near his home in Witbank, a town in the eastern province of Mpumalanga, on Sunday afternoon, police spokesman Leonard Hlathi said.

As part of their demands, the report said, the kidnappers “demanded the family should deposit a sum of 15 bitcoins, in rands,” Hlathi told news channel eNCA. “(The parents) don’t even know what these bitcoins are. They are not dealing in those things. They are in tatters as we speak.”

Although police in South Africa have reported a recent rise in kidnappings, Reuters reported, the ransom demand in cryptocurrency appears to be a first.

In December, kidnappers in Ukraine received a ransom worth more than $1 million in bitcoins for releasing their victim – an employee of a British cryptocurrency exchange, the report said., Jack Durschlag

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