Crypto also needs laundering. If someone forces me to hand over $50MM in Eth, I’ll file a police report with the addresses and they’ll get exchanges to block any funds coming from it. The thief may try to anonymize it with something like Tornado Cash, but that would take a very long time due to the largest pool being 100 ETH.
The alternative is demanding payment in a privacy coin, but it will be difficult for any potential victim to get as much as you need quickly enough.
Even with a privacy coin the attacker still has to be in close enough physical proximity to the victim or hostage to threaten them which leaves behind physical evidence.
Overall, I’m not sure you gain much by demanding payment in crypto over cash.
The alternative is demanding payment in a privacy coin, but it will be difficult for any potential victim to get as much as you need quickly enough.
Even with a privacy coin the attacker still has to be in close enough physical proximity to the victim or hostage to threaten them which leaves behind physical evidence.
Overall, I’m not sure you gain much by demanding payment in crypto over cash.