RATE Group | Katlego Marite: 13-year-old South African boy kidnapped for bitcoin ransom found
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Katlego Marite: 13-year-old South African boy kidnapped for bitcoin ransom found

24 May Katlego Marite: 13-year-old South African boy kidnapped for bitcoin ransom found

Posted at 18:01h in Bitcoin News by

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Katlego Marite, 13, was taken by three men in a car as he played with two friends near his home in the eastern province of Mpumalanga on Sunday.

Police spokesman Brigadier Leonard Hlathi confirmed to CNN that Marite had been found but declined to comment further on the circumstances.

Kidnappers snatch a 13-year-old South African boy and demand his ransom be paid in bitcoins

“The combined efforts by the police and the community paid off when Marite was found safe and sound. The circumstances under which he was found are a subject of investigation,” Hlathi said.

The police spokesman also declined to comment on whether the bitcoin ransom demanded by the kidnappers was paid.

Hackers hold hotel's keys hostage for bitcoin ransom

The men had demanded 15 bitcoins, which is roughly equivalent to $120,000 in cash.

In the ransom note, the kidnappers asked the boy’s parents to pay “One bitcoin by May 21 and the full amount by May 27.” The boy’s family told police they didn’t know what bitcoins were.

Bitcoin is a new currency that is not tied to any country or subject to regulation. Bitcoins are traded on exchanges and stored in virtual…

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