Regarding the Greek word (lyʹtron) translated “ransom,” Bible scholar Albert Barnes wrote: “The word ransom means literally a price paid for the redemption of captives. In war, when prisoners are taken by an enemy, the money demanded for their release is called a ransom; that is, it is the means by which they are set at liberty. So anything that releases anyone from a state of punishment, or suffering, or sin, is called a ransom.”

Yes, “anything that releases anyone” can be referred to as lyʹtron. So this Greek word highlights the act or process of releasing.a