Business owners in Amsterdam express their worries in today’s crypto news about criminals who are threatening to harm their businesses unless they pay them insanely high amounts of bitcoin.
According to local NLTimes, multiple businesses received emails where the criminals demand more than 50,000 euros worth of bitcoin. If the business owners fail to pay the extorted sum, the criminals threaten that they will plant hand grenades where the business are or as a second option, the business will be shot upon. As a precaution, businesses are required to shut down in Amsterdam for an indefinite period of time in case explosive devices are found or a shooting takes place.
A piece of the email threat reads:
“You probably noticed how many entrepreneurs have had to close their doors recently by order of the municipality. To prevent you from being the next one, you must immediately take action.’’
In order to pay the extortion fee, the business owners are instructed to open a new account on two crypto exchanges and them being Coinbase and Coinmama. Next up they have to buy bitcoins on either one of the exchanges and then transfer them to a required address.
At least three coffee shops have already received a threat like this in Amsterdam and also a few nightclubs. The criminals even said that the extortion fee will be doubled if the owners don’t make the payment in five days.
The email recipients must keep the threat confidential and they are warned for informing the police or any other law enforcement body. If they don’t maintain the confidentiality, the extortion fee will reach a stunning 200,000 euros. However, there is no single business registered to have paid the said amount.
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Venture Capital Firm Owner Announced That He Will No Longer Invest In Crypto Projects
“From this day on, Li Xiaolai personally will not invest in any projects (whether it is blockchain or early stage). So, if you see ‘Li Xiaolai’ associated with any project (I have been associated with countless projects without my knowledge, 99% is not an exaggeration), just ignore it. I plan to spend several years to contemplate on my career change. As for what I’m doing next, I’m not sure just yet.”There might be a few reasons why Li decided to move away from the crypto sector mostly because of the crackdown on ICOs by the Chinese government and also because of the rise in scams in the crypto space. A Chinese national TV released a documentary about the technology claiming that blockchain has the potential to surpass the success of the Internet. However, just after the release of the documentary, the government of China tightened the ban saying that ICOs are considered as illegal fundraising tools. The government stated:
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Risk of illegal activities, unregulated overseas markets and inability to track or monitor transactions made in ICOs.
Illegal operations like profit-generating pyramid schemes and creating Ponzi schemes by describing them as ‘financial innovations.’’
Ripple Goes Above $0.50 Mark After Coinbase’s Announcement
The XRP investors long grumbled that Coinbase had declined to list their token, even as it listed other cryptocurrencies with smaller market caps. Even though this announcement does not guarantee that the firm will list XRP - there is still some allegations saying that it should be regulated as a security.
“Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner. With this shift in process, our customers can expect us to list most assets over time that meet our standards.”
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