Altcoin News

Kidnappers demand a hefty amount in privacy coin for the missing Norwegian tycoon’s wife

Kidnappers in Norway are now preferring to be paid in Monero, a privacy coin, for them to release the wife of the 172nd richest man in the country.

According to the Norwegian police, the wife, Anne-Elisabeth Falkevik Hagen, was reported missing in October last year. At first, the police treated it as a private investigation but after seeing no much information was forthcoming, they decided to involve the public.

Falkevik is the wife to Tom Hagen, a tycoon who has been named as the 172nd richest man in Norway.

Inspector Tommy Brøske disclosed that after they decided to involve the public in the search for the tycoon’s wife, the kidnappers have now surfaced with a ransom demand of 9 million euros and specific instructions that the ransom should be paid to them in a privacy coin. Specifically, Monero.

Brøske adds that the ransom demand has been accompanied with “very serious threats.” The police have not found any suspect.

Tommy continued to note that:

The authorities have received no sign of life from the woman, but we haven’t received any indication that she isn’t alive either.

The kidnappers are reported to have left a note inside Hagen’s home warning Hagen not to seek police intervention. Otherwise, they will not guarantee the life of his wife.

The investigators have advised Tom not to pay the ransom, whether in a privacy coin or any other way, with the family lawyer confirming that “the family decided to follow the police advice.”

As law enforcement agencies find ways to trace transactions in public blockchains like Bitcoin, kidnappers, drug dealers, and money launderers are now preferring to use a privacy coin like Monero (XMR) and Zcash (ZEC) to hide their tracks.

Do you think privacy coin such as Monero (XMR), Zcash (ZEC) and others will record increased usage from criminals?

Let us know your thoughts in the comments section below


Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

  1. Kazibwe Edris

    January 11, 2019

    This is heartbreaking. These cryptos must be KYC compliant and I am happy one of them (Electroneum) has done that.

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