The CEO of a blockchain start-up company Cornerstone was kidnapped in Kiev. No ransom has been asked yet.
March 14, 2019. | AtoZ Markets - Cornerstone is a blockchain start-up company focused on tokenizing digital assets in the real estate industry. The CEO of the company, Gregory Kucherkov has been reported kidnapped after a video showing him being forced into a vehicle by suspected kidnappers, was surfaced online.
Prior to this incident, Cornerstone was planning an ICO to raise funds for its token and other business projects. Fedir Martynov, the company's COO said that the company had already raised some funds privately for its ICO. Fedir also believes that the private fund raised might be the reason for the kidnap. However, no ransom or any kind of demands have been made yet.
Is Ukraine dangerous for crypto investors?
Many start-ups have emerged from the cryptocurrency and blockchain industry in the last five years as many want to benefit from the huge potentials of the cryptocurrency market and blockchain. The risk crypto innovators might have in the nearest future is security. Few blockchain businessmen and investors have been under similar attack in the past in Ukraine. Russian programmer and crypto investor, Pavel Lerner was released from kidnappers' den after his family paid a ransom of $2 million. Late last year, a successful Bitcoin miner was robbed of $500,000 in Ukraine. This is another case which would probably require another ransom to be paid.
Is the news about Cornerstone CEO kidnapping fake?
Since the release of the news, many are sceptical of the genuineness. There are some people trolling the news and calling for substantial evidence aside from the video footage which according to the trolls, might have been acted. The fact that local newspapers in Kiev have not also covered this news yet, calls for suspicion.
Furthermore, the police have not yet released any official statements concerning this incident, therefore, making this look intangible. However, the news cannot be completely thrown away. Why would a start-up want a scandal at such an early stage?
How the incident could affect Cornerstone project
Cornerstone wants to apply blockchain technology to real estate. If successful, it will make investing in real estate easier for many people. The company is, therefore, trying to raise funds for the sale of 500,000,000 tokens. If the kidnap story of Gregory Kucherkov is true, the project might be delayed longer than expected.
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