Bitcoin being used for criminal activities: Kidnapping elderly people for ransom
February 10, 2026
Bitcoin has long been praised by enthusiasts as the currency of the future. Many have touted it as a hedge against inflation or a decentralized alternative to corrupt banking systems. However, the reality is that Bitcoin’s extreme price volatility and high transaction fees make it a poor fit for most practical commercial uses. Despite these limitations, the recent kidnapping of Nancy Guthrie sheds light on one notable utility that Bitcoin has managed to maintain: its role as the preferred currency for criminal activities worldwide.
Reported by Fortune, the kidnappers of Today show host Savannah Guthrie’s mother have demanded a ransom of $6 million in Bitcoin for her safe return. Unlike other ransom demands, this one seems to hold weight, as it included specific details about Guthrie’s home and attire at the time of her disappearance, along with a deadline for the payment. Additionally, TMZ confirmed the authenticity of the Bitcoin wallet address provided in the ransom note.
Bitcoin’s appeal to kidnappers lies in its blockchain technology, which provides a more secure payment method for criminals looking to conceal their identities compared to traditional fiat currency. While Bitcoin transactions can be traced between wallets, it is significantly easier for criminals to mask their identities when using cryptocurrency.
Nancy Guthrie’s abduction is just one in a string of criminal incidents involving Bitcoin over the past year. In May, a man named John Woeltz, also known as the “Crypto King of Kentucky,” was arrested for allegedly taking an Italian man hostage in an attempt to access his Bitcoin wallet. Similarly, the daughter of French crypto mogul Pierre Noizat narrowly escaped a kidnapping plot in Paris.
The choice to demand Bitcoin as ransom in the case of Nancy Guthrie underscores the reality that criminals are increasingly turning to cryptocurrency for illicit activities. The decentralized nature of blockchain technology offers a level of anonymity and security that makes it an attractive option for those seeking to evade law enforcement.
The ongoing saga of Nancy Guthrie serves as a stark reminder of the dangers associated with the misuse of Bitcoin and other cryptocurrencies. While Bitcoin may have failed to establish itself as a viable mainstream payment method, its enduring appeal to criminals highlights the need for increased scrutiny and regulation of digital currencies in order to prevent further exploitation for nefarious purposes.