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Fri Dec 29, 2017, 10:47 PM

Kidnapped crypto executive was reportedly released after paying a $1 million bitcoin ransom

Source: Business Insider

Pavel Lerner, the CEO of the cryptocurrency exchange Exmo Finance, has been released from the custody of kidnappers after the payment of a $1 million bitcoin ransom, according to the Financial Times.

Local media reports said Lerner, 40, was dragged into a black Mercedes-Benz by men in balaclavas while leaving the Kiev, Ukraine, offices of his company on Tuesday. The FT reported Friday that Lerner was "released in a state of shock," according to Anton Gerashchenko, a Ukrainian adviser.

"We have operative information that he paid more than $1 million worth of bitcoins," Gerashchenko said. The exchange business Lerner runs is registered in the UK and also has a presence in Spain, Russia, India, and Thailand, according to The Telegraph. The anonymity of bitcoin and its eye-popping gain of more than 1,300% this year have made it a darling of criminals and the so-called dark web.



Read more: http://www.businessinsider.com/kidnapped-crypto-exec-released-after-paying-1-million-bitcoin-ransom-2017-12

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Response to ansible (Original post)

Fri Dec 29, 2017, 10:52 PM

1. This is what happens

when you do away with government and laws and make everything private.

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Response to ansible (Original post)

Fri Dec 29, 2017, 11:18 PM

2. Do Bitcoins have some kind of electronic serial number or identifier?

Do Bitcoins have some kind of electronic serial number or identifier?

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Response to keithbvadu2 (Reply #2)

Fri Dec 29, 2017, 11:45 PM

3. Bitcoins ARE, in essence, serial numbers or identifiers

With very specific mathematical properties that makes them easy to validate but difficult to produce.

Don't ask for details because that's the limit of my understanding of them.

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Response to Xipe Totec (Reply #3)

Fri Dec 29, 2017, 11:49 PM

4. Seems like that would make them traceable... Yet they are anonymous?

Seems like that would make them traceable... Yet they are anonymous?

Confusing.

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Response to keithbvadu2 (Reply #4)

Sat Dec 30, 2017, 12:10 AM

5. Well, here's the wiki definition of what bitcoins are

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Response to ansible (Original post)

Sat Dec 30, 2017, 12:18 AM

6. Up until a few weeks ago....

that was about 4 Bitcoins, wasn't it? Now it's a few thousand I think.

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Response to SergeStorms (Reply #6)

Sat Dec 30, 2017, 12:51 AM

7. High was a bit above 19K. Closed today at just under 13k. 4 would've never done it.

 

But I still think a BC crash is coming with zero regulations on it.

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Response to 7962 (Reply #7)

Sat Dec 30, 2017, 04:20 AM

8. I should have used.....

the emoticon, as it was meant to be joke. I have a hard enough time keeping track of my money as it is. No way am I getting involved with a crypto-currency where my groceries would cost .00337 Bitcoins. Some people made a killing on them, some took the proverbial bath. I have enough to think about without that stuff cluttering my mind.

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Response to SergeStorms (Reply #8)

Sat Dec 30, 2017, 09:44 AM

10. Yeah, how is it supposed to be the "new" currency when you never know what its worth??

 

By the time you finish grocery shopping your groceries are either a lot more expensive or a lot cheaper?

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Response to 7962 (Reply #7)

Sat Dec 30, 2017, 04:41 AM

9. I saw where South Korea came out against crypto currency and theres speculation it may be banned.

I imagine that thwarted the unprecedented rise a bit?

I donít dabble in crypto currency myself, but I wish those who do well. I know some who have done quite well in it in the long haul. Ah, hindsight, but Iím too financially conservative to be them. Iím also a decade older than they are. Which changes ones approach to risks.

On edit: I cannot get apostrophes to work in the subject line anymore. My apologies. I assume itís an apple thing?

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Response to herding cats (Reply #9)

Sat Dec 30, 2017, 09:48 AM

11. Dont worry about it. We shouldn't have punctuation cops here!

 

Although I have seen it.

And me too with the "hindsight" for sure
I remember when Priceline hired William Shatner. I thought, hey they must have a new business plan since they're going all out with a star, maybe I should buy a couple thousand shares? They traded at about 2.00 back then. Now they're over 1,000.00.
Arrrghhh

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Response to herding cats (Reply #9)

Sat Dec 30, 2017, 09:54 AM

12. The apostrophe thing just started for me

when I updated my phone. Irritating, because Iím a bit of a grammar and punctuation fascist.

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