Nancy Guthrie case: Why criminals are turning to cryptocurrency for ransoms

As the hunt for Nancy Guthrie stretches into a 2nd week, her alleged captors are reportedly seeking a $6 cardinal Bitcoin ransom, illustrating however cryptocurrency has reshaped the concern of extortion.

Guthrie, 84, the parent of NBC News anchor Savannah Guthrie, was abducted from her location successful Arizona, with investigators aboriginal confirming lone constricted details astir a ransom demand.

Bitcoin is simply a integer currency that operates without a cardinal authorization similar a slope oregon government, allowing radical to nonstop wealth straight to 1 different implicit a web of computers.

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"Criminals progressively petition cryptocurrency successful ransom and extortion cases due to the fact that it is fast, planetary and does not trust connected accepted banking rails that tin hold oregon artifact payments," explained Ari Redbord, planetary caput of argumentation astatine TRM Labs, a blockchain quality and crypto-forensics firm.

"Cases similar the alleged crypto ransom request successful the Nancy Guthrie lawsuit item however this dynamic is playing retired successful the existent world," added Redbord, a erstwhile national authoritative and elder U.S. Treasury official.

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It remains unclear whether outgo of the $6 cardinal would unafraid the 84-year-old’s release. What's more, contempt repeated public pleas from the Guthrie family, neither impervious of beingness nor nonstop interaction with her has been provided.

Still, Redbord cautions that the aforesaid exertion that makes cryptocurrency charismatic to criminals tin besides exposure them. 

"The infinitesimal a wallet code appears, investigators person thing actionable. Funds tin beryllium tracked successful existent time, associations identified and networks mapped successful ways that are intolerable with bulk currency oregon informal worth transportation systems," Redbord said.

He added that cryptocurrency has fundamentally altered the economics of ransom and extortion — often successful ways perpetrators neglect to afloat appreciate.

"Crypto has changed the economics and incentives down ransom and extortion by expanding velocity and reach, but it has besides fixed instrumentality enforcement and nationalist information teams unprecedented visibility," helium added.

The FBI is offering a reward of up to $50,000 for accusation starring to the betterment of Guthrie oregon the apprehension and condemnation of anyone progressive successful her disappearance. If you person immoderate accusation concerning this case, interaction the FBI astatine 1-800-CALL-FBI, oregon taxable a extremity online.