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$10 million in Monero [XMR] demanded by kidnappers as ransom in Norway




$10 million in Monero [XMR] demanded by kidnappers as ransom in Norway
Source: Unsplash

Monero [XMR], a popular privacy coin in the market, is in the limelight as the cryptocurrency is demanded as ransom by kidnappers in Norway. According to the local newspaper, VG, Anne-Elisabeth Falkevik Hagen, wife of one of Norway’s richest men, Tom Hagen, went missing over ten weeks ago, since October 31, 2018.

The kidnappers are demanding nine million euros [$10 million] in the cryptocurrency, Monero. The estimated value of the family is estimated to be around $199 million, and are listed as the 172nd richest family in the country by Norway’s financial Magazine, Kapital. The demand is also one of the reasons for the police to believe that this could be a kidnapping case.

The police have been working on this case for a long duration as one of their top secret operations. This is mainly due to concerns regarding the safety of Falkevik Hagen’s life and health. To add on, since the disappearance of Falkevik Hagen, the police have not found any evidence with respect to her safety, according to the reports.

The police decided to go public with the case after ten weeks because they wanted more information pertaining the case. They believe that the kidnapping took place at the victim’s house, one of their theories being her abduction from the bathroom. Moreover, the European Union Agency for Law Enforcement [Europol] and the International Criminal Police Organization [Interpol] have been informed of the case and are currently involved in it with the police.

Tommy Broeske, a Police Inspector said that, at present, their goal is to find the missing woman “alive and reunite her with the family”. He said:

“There has been demand for ransom, and serious threats have been made in this case. As things now stand, we advise the family not to pay.”

Joaeahina, a Redditor said:

“That’s 1% of Monero’s entire marketcap. I hope the kidnappers get caught (not through blockchain analysis but through traditional police work).”

Zenb0y, a Reddit user said:

“Bitcoin survived silkroad publicity, Monero will survive this kind of happenings. Actually criminals are always early adopters of technology to stay ahead. Look at minicalls, mobile phones, internet etc. Hope they get caught and that the victim will be in good health!”

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.


Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%




Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.

Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”

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