Pavel Lerner, Managing Director of EXMO, a popular cryptocurrency exchange was released after a ransom of $1 Million was paid in bitcoin.

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On December 27, Lerner was kidnapped in Kiev, Ukraine.

“He was kidnapped by an armed gang for the purpose of extorting Bitcoins. We have operative information that he paid more than $1 million worth of bitcoins,” said Anton Gerashchenko, an advisor to the Ukrainian interior minister.

Lerner was reportedly taken away by “unknown persons” in a black Mercedes Benz.

EXMO put out an official statement about Lerner’s abduction stating the company “got a hold” of Lerner and that he is now safe:

“At the moment, he is safe, and there was no physical harm inflicted on him. Nevertheless, Pavel is currently in a state of major stress; therefore, he will not provide any official comments in the coming days,” stated EXMO in an official release.

Ransom payment was never mentioned by EXMO, but it did mention that the abduction did not affect the company.

“We would also like to point out that Pavel’s activity at EXMO did not involve an access to financial assets of our users. Despite the aforementioned, the platform continues its usual operations,” the report continued.

On December 28, EXMO experienced a DDoS attack, according to the company’s official Twitter.

Lerner, a Russian citizen, holds a residence permit in Poland and has several startup companies that utilize blockchain technology in Ukraine.

EXMO is officially registered in the United Kingdom, but has “operations in Ukraine.”

The investigation into Lerner’s case is ongoing and the identities of the kidnappers are not known.

Stay tuned to BlockchainDaily.News for more updates.

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