"In order to pay the ransom, the Guthrie family would have to acquire Bitcoin, typically by opening an account with a crypto exchange, according a spokesperson at the blockchain analysis firm Chainalysis. The family could also send the money through an intermediary. In either case, they would then transfer the requested amount to the wallet address provided by the captors."
"Bitcoin addresses, which are public, are long strings of random numbers and characters that can only be opened with a corresponding private key controlled by the wallet owner. The public nature of Bitcoin's blockchain means it's possible to watch funds move on so-called explorer sites like this one. While the public record does not include explicit names or locations, blockchain forensics firms are often able to associate addresses with certain crypto exchanges or criminal gangs."
Search for Nancy Guthrie entered a second week after an alleged ransom note demanded $6 million in Bitcoin with a 5 p.m. Monday deadline and a threat to her life. Savannah Guthrie and siblings offered to pay in a weekend Instagram video. KGUN9 declined to share further details about the ransom letter and law enforcement has not confirmed its legitimacy. Payment would require acquiring Bitcoin via an exchange or intermediary and transferring funds to a provided wallet address. Bitcoin addresses are public and blockchain explorers allow tracking of transactions. Blockchain forensics firms can sometimes link addresses to exchanges or criminal groups, and authorities can intervene to seize or intercept funds.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]