Kidnappers demanding for ransom in cryptocurrency is not a new thing and sadly as mass adoption increases, so will the rate at which it is used by bad actors to perpetrate evil increase. As it is right now, I think it will be for our own good to protect ourselves by keeping our crypto activities discreet and to avoid living a flamboyant lifestyle. As this will not only keep us safe but also help not to put the lives of our loved ones in jeopardy.
That is only the best way to avoid harm's way, yet some investors appear not to be aware that living an expensive lifestyle is unsafe. Many people prefer to show off their wealth and oppress others; otherwise, if we can live a low life, nobody would notice that we own any cryptocurrencies. Furthermore, kidnappers demanding bitcoin is not something new, since it is the most safe way for kidnappers to collect ramson.
Furthermore, if the kidnappers want ramson in cryptocurrency, they feel it will not be traceable to them. In my country Nigeria, there was a story of a 20-year-old student who faked being kidnapped and asked his father for money. They demanded a ransom of around N50 million in Bitcoin, and the price of Bitcoin at that time was around $60k last year. The father paid N5 million in Bitcoin, and they spent N2 million out of the money they received in two days. We must maintain a low profile and enjoy life since we have no idea who could be after us.