Nancy Guthrie case: Why Bitcoin is used by criminals in ransom demands

As the search for Nancy Guthrie stretches into a second week, her alleged captors are reportedly seeking a $6 million Bitcoin ransom, illustrating how cryptocurrency has reshaped the business of extortion.

Guthrie, 84, the mother of NBC News anchor Savannah Guthrie, was abducted from her home in Arizona, with investigators later confirming only limited details about a ransom demand.

Bitcoin is a digital currency that operates without a central authority like a bank or government, allowing people to send money directly to one another over a network of computers.

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“Criminals increasingly request cryptocurrency in ransom and extortion cases because it is fast, global and does not rely on traditional banking rails that can delay or block payments,” explained Ari Redbord, global head of policy at TRM Labs, a blockchain intelligence and crypto-forensics firm.

“Cases like the alleged crypto ransom demand in the Nancy Guthrie case highlight how this dynamic is playing out in the real world,” added Redbord, a former federal prosecutor and senior U.S. Treasury official.

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It remains unclear whether payment of the $6 million would secure the 84-year-old’s release. What’s more, despite repeated public pleas from the Guthrie family, neither proof of life nor direct contact with her has been provided.

Still, Redbord cautions that the same technology that makes cryptocurrency attractive to criminals can also expose them. 

“The moment a wallet address appears, investigators have something actionable. Funds can be tracked in real time, associations identified and networks mapped in ways that are impossible with bulk cash or informal value transfer systems,” Redbord said.

He added that cryptocurrency has fundamentally altered the economics of ransom and extortion — often in ways perpetrators fail to fully appreciate.

“Crypto has changed the economics and incentives behind ransom and extortion by increasing speed and reach, but it has also given law enforcement and national security teams unprecedented visibility,” he added.

The FBI is offering a reward of up to $50,000 for information leading to the recovery of Guthrie or the arrest and conviction of anyone involved in her disappearance. If you have any information concerning this case, contact the FBI at 1-800-CALL-FBI, or submit a tip online.