Are Headlines Fake News?
EMALAHLENI - Katlego Marite, the 12-year-old boy kidnapped from eMalahleni, has been found.
The boy was kidnapped on Sunday afternoon.
He was playing with his two friends at Frangipani Street, Tasbetpark when he was taken.
Kidnappers left a note demanding a ransom in the form of Bitcoin.
My Thoughts: Living in a country with violent crime, kidnapping, poverty, mayhem one would never consider Bitcoin being used for randsom. Are these guys for real?
Not many even know what Bitcoin is, let alone how it works. South Africa has 1 Bitcoin ATM that I am aware of, so where would this ransom money be exchanged, a neighbouring country, it has to be taken into consideration?
If the kidnappers moved the Bitcoin through a local exchange to convert to fiat, it is traceable. Exchanges do FICA clearance, with copy of your ID before checking you are correctly linked to a Fiat Bank in South Africa.
A grimy piece of paper "demand" with a bitcoin address handed to the parents.
Professionals would have sent QR code via smartphone connection, does this reflect ignorance on the part of the kidnappers.
Bitcoin is traceable, this would have been seen without any problem on a public ledger. 15 BTC moving in South Africa is a large sum to move in one transaction.
How did kidnappers know this family had cryptocurrency, (that is if they had any in the first place), by what I have read the family know very little about Bitcoin (let alone 15 BTC).
Parents need to be cautious on how they express themselves in Social Media, it would appear children are becoming the target for parents who talk to people they do not know.
Fortunately this young boy has been returned to his parents without being harmed.
Whether is story turns out to be a hoax or fact, makes no difference. Be aware of what you broadcast, you never know who is listening!
Please leave your thoughts in the comments below.
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