Bitcoin Extortionist Sentenced to 8 Years for $181 Million Bitcoin Demand

Bitcoin Extortionist Sentenced to 8 Years for $181 Million Bitcoin Demand

  An extortion case involving Bitcoin worth over 181 million rubles has resulted in an 8-year prison sentence for a resident of the Moscow region. This individual was found guilty of robbery and extortion, involving cryptocurrency. Dive into the details of this fascinating case and its impact on the crypto world.



In a recent verdict, an Omsk court sentenced a 48-year-old resident of the Moscow region to 8 years and one month in prison for his involvement in a robbery and extortion scheme related to Bitcoin. The court's investigation revealed that during August and September 2021, the perpetrator was in Omsk, where he closely monitored a local resident, suspecting that he possessed substantial Bitcoin savings totaling 181 million rubles.


The extortionist repeatedly contacted the victim, using threats and demands to coerce the transfer of Bitcoin to his cryptocurrency wallet. In November 2021, the criminal, along with two accomplices, purchased two electric shock devices in Moscow, returned to Omsk, and continued surveillance on the Omsk resident, with intentions to carry out an attack.


The case took a dramatic turn on the night of December 22, 2021, when the accused and one of his accomplices, masked and armed with electric shockers, infiltrated the home of a family of three, believing that the Bitcoin owner was among them. However, one of the residents successfully resisted the attackers, causing them to flee the scene.


Authorities managed to identify and apprehend the mastermind behind the crime, although he did not admit guilt. Consequently, criminal charges were filed for "robbery" and "extortion."


The court's decision handed down a prison sentence of 8 years and 1 month in a high-security penal colony and ordered the extortionist to pay compensation of 180,000 rubles to three victims as compensation for the emotional distress caused.


This case highlights the unique challenges and legal implications associated with cryptocurrency-related crimes and serves as a stark reminder of the importance of security in the crypto world.


 

Bitcoin's Remarkable Rally: A $1,000 Surge in 24 Hours – What's Next?

Bitcoin's Remarkable Rally: A $1,000 Surge in 24 Hours – What's Next?

Bitcoin Surges by $1,000 in a Day: What Comes Next?

The price of Bitcoin has risen by $1,000 in just a day, surpassing the $26,200 mark. Experts have analyzed the price movements of the leading cryptocurrency and provided forecasts for its future dynamics.


Over the past 24 hours, the price of Bitcoin has increased by $1,000. The first cryptocurrency has risen in value from $25,000 to over $26,000, recovering from its decline on September 11th. As of 5:00 pm UTC, the asset is trading around the $26,200 mark.

Experts have analyzed the price movements of Bitcoin for "RBK-Crypto" and have provided forecasts for its future dynamics. Market analyst Victor Pershikov stated, "The recent movements of Bitcoin do not have any fundamental justification. With low liquidity and decreasing market capitalization, the asset is simply changing hands from one group of players to another, creating a range that was established back in late March. Its lower boundary at $25,000 has repeatedly acted as significant support, and a drop below this level would be unpleasant for many players, particularly miners, so it is clear that this level is being defended."

Pershikov continues to anticipate no significant price changes in September, believing that range-bound movements within the $24,000 to $31,000 range will continue. He suggests that more substantial and deliberate movements can only be expected in the fourth quarter. Investors are closely watching for signals from the Federal Reserve, both at the September meeting and the November FOMC meeting, which could bring volatility to the market. Currently, the market's volatility is purely formal and remains within capitulations.

Artem Deev, Head of the Analytical Department at AMarket, explains that Bitcoin has been following the market recently. Various factors have influenced it, but overall, the situation is such that the global economy is not growing. Since cryptocurrency is a speculative asset, its main value lies in protecting investments. However, in a stagnant environment, Bitcoin does not even represent a normal defensive asset. Plus, the majority of players in the crypto market are private investors who closely monitor the movements of major players and easily change course. Nevertheless, Deev believes that the market may lean towards buyers in September.