Gregory Kucherkov, the CEO of a Ukrainian blockchain startup, Cornerstone, was recently kidnapped in the capital of the country, Kiev. The story was reported to BitcoinExchangeGuide as well as other news outlets by Fedir Martynov (COO in cornerstone).
Cornerstone is a blockchain-based company that works to use the DLT in order to fund real estate. The company is currently planning an Initial Coin Offering (ICO) at the moment.
Martynov told the crypto media outlet that the company had just done a private sale in order to raise some capital to organize the ICO and that the police of Ukraine believes that the large sum of money that the company has was the real motivation behind the kidnapping.
At the time of this report, there was no official motivation for the criminals to kidnap the CEO, so we can only speculate. Martynov affirmed that the company already has the funds for the ICO, but that no ransom was demanded so far. In fact, no contact at all was made by the attackers until this moment.
The proof that the kidnapping actually happened is a video that you can watch below. It shows two men kidnapping Kucherkov at gunpoint in Ukraine.
Most of the time, Kucherkov used to split his time among New York City and Kiev. Most of the people close to him believe that the kidnapping simply has to do with the potential value of the company, especially now that they were able to raise a lot of money from the investors.
Despite the project being so young, it has a lot of money on its hands. At the moment, the company is trying to get attention from the media in order to convince the kidnappers to give the CEO back safely.
The idea behind Cornerstone is to create a platform in which all users will be able to invest in real estate somehow. This way, the company was mostly focused on creating a very low barrier of entry.
According to the company, the goal was to sell 500 million tokens during the ICO and to tokenize properties, so the assets could be worth a share of the properties. The company would make the investments and the investors would get the profit.