search newsletter login upgrade

Tracking the rise in crypto-ransoms as Norwegian kidnappers demand payment in Monero

by Isabel Woodford

January 9, 2019, 1:01PM EDT  ·  3 min read

by Isabel Woodford

January 9, 2019, 1:01PM EDT  ·  3 min read

Kidnapping for ransom is an age-old criminal financing tool. But while such demands have traditionally been made in fiat currencies, in recent years, criminals have also been seeking their ransoms in crypto. The relative anonymity of cryptocurrencies makes it much harder for authorities to track down the perpetrators. Law enforcement can identify users’ wallets, but it is much more difficult than sourcing named bank accounts.