Kidnapped Crypto Executive Ransomed

A reminder, if any was needed, that the skyrocketing value of cryptocurrency makes major holders vulnerable:

Armed gang members kidnapped a top executive at U.K.-registered cryptocurrency exchange Exmo Finance this week and only released him after they were paid a $1 million equivalent ransom in bitcoins, the Financial Times reported.

https://gizmodo.com/kidnapped-crypto-exchange-executive-reportedly-paid-1-1821658250

Author: Michael O'Connor

Michael O'Connor is a Visiting Assistant Professor of Law at Penn State. He teaches in the areas of cyber law, including data security & privacy, cybercrime, and emerging technologies. His scholarship focuses on cryptocurrency and blockchain technology, including securities regulation, money laundering, and other topics. He joined Penn State Law from private practice at the law firm Quinn Emanuel Urquhart & Sullivan LLP, where he was resident in the Washington, D.C., office. Before that, he clerked for the Hon. D. Brooks Smith on the U.S. Court of Appeals for the Third Circuit and worked for another major international law firm. While in private practice, Michael advised clients on legal planning for data breaches, their obligations for safe handling of personally identifiable information, and the legal implications from emerging technologies like Bitcoin, Ethereum, and the blockchain. He applied his technical training to patent cases involving semiconductor design, systems programming, and mobile device architecture. He also worked on multiple cases at the intersection of patent and antitrust law. Michael represented clients in cases before federal courts throughout the country, as well as before the International Trade Commission.​