The article highlights the alarming increase in cryptocurrency-related kidnappings globally, driven by rising values and low risks for perpetrators. Adam Healy, a security expert, reports a significant uptick in the frequency and brutality of such attacks, especially in regions like Canada and Europe. As cryptocurrencies become more valuable and harder to trace compared to cash, criminals are increasingly attracted to this form of crime. Recent incidents in France exemplify this threat, illustrating the dangers faced by high-profile individuals in the crypto industry.
"What we've seen in the last eight or nine months is a massive increase in the frequency and frankly the ruthlessness of these types of attacks," Adam Healy, a former US Marine and founder of the security firm Station70, told The Post.
"It kind of coordinates with the price of bitcoin going up. Then there's been some successful ransom payouts primarily in Canada and Europe, which have now gotten the attention of a broader criminal base..."
"If you actually think about it it makes total sense. It's a lot easier - lower risk - and it's a much bigger payout than, say, robbing a bank or robbing a convenience store."
"Cryptocurrencies have surged in value, with bitcoin up 54% in the last year, and is also much more difficult to track than dollars, he pointed out."
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