An individual took a hostage at an Apple Store in Amsterdam earlier this week and reportedly demanded 200 million euros (over $226 million) in cryptocurrency as ransom. Cyber-criminals asking for ransom in cryptocurrencies is not unheard of, but it's not often that a gun-totting suspect holds hostages in broad daylight, and demands cryptos in exchange for their freedom.

The hostage drama started on Tuesday afternoon after a man entered an Apple Store in the Leidseplein area of Amsterdam with firearms. Leidseplein is a busy square at the end of Amsterdam's central canal ring and is believed to be popular among tourists and locals alike. It is dotted with bars, cafes, and restaurants, most of which were shut following the incident.

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According to The Associated Press (via ABC News), the suspect was an Amsterdam resident armed with a handgun and an automatic firearm. Having taken a hostage at the store, the suspect asked for cryptocurrencies worth 200 million euros (over $226 million) in ransom in exchange for the hostage, and free passage out of the city. Following a five-hour standoff with the Dutch authorities, the situation eventually came to an end when the suspect was run over by a police vehicle while chasing the hostage who tried to escape. The injured man was rushed to the hospital, and pronounced dead. Nobody else, including the hostage, police officers, bystanders, or store employees, are understood to have been seriously hurt in the incident.

Cryptocurrency Instead Of Cash

Apple Store

The hostage-taker demanding crypto rather than cash points to the growing popularity of digital assets, not only among cyber-criminals but also among criminals in the real world. What draws criminals towards cryptocurrencies is often the assumption of anonymity, and the security of knowing that it would be almost impossible for law enforcement to track them down. However, anonymity with cryptocurrencies is not always a given, as was proven recently when a U.S. couple was tracked down and charged with conspiracy to launder cryptocurrency worth $3.6 billion stolen from the 2016 Bitfinex hack.

In the aftermath of the incident, Apple praised the Amsterdam police, as well as customers and staff at the Leidseplein store. In a statement obtained by TechCrunch, the company thanked the local law enforcement "for their exceptional work" and said that staff and customers showed "incredible strength and resolve ... under such challenging circumstances." As for the store itself, it was listed as 'closed' on Wednesday and Thursday following Tuesday's incident. There are reportedly bullet holes in the Apple Store's windows as well.

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Source: AP/ABC News, TechCrunch