“Crypto Trader Kidnapped and Pays $340,000 for Freedom”

Pakistani crypto trader, Mohammed Arsalan, has been released after he was forced to pay $340,000 in crypto to his kidnappers. According to Inspector General of Police Ghulam Nabi Memon, authorities have arrested seven suspects in connection with this crime.

Details of the Kidnapping and Arrest

Arsalan was kidnapped from Manghopir on December 25. His abductors forced him to transfer money from his Binance account to various accounts, after which he was released in the vicinity of the Brigade police jurisdiction. After his release, he filed a First Information Report (FIR) with Manghopir police, describing the kidnapping under sections 365-A and 34 of the Pakistani Penal Code.

The arrests were carried out by a team from the Anti-Violent Crime Cell (AVCC) and the Criminal Investigation Agency (CIA), led by SSP Aneel Haidar Minhas. The arrested suspects have been identified as Ashar, Mohammed Rizwan Shah, Umer Irshad, Muzamil Raza, Tariq Hasan Shah, Noman Riffat, and Umer Jilani.

Involvement of Police Personnel

A notable aspect of this case is the involvement of a police officer in the kidnapping. Memon confirmed that an officer from the Counter-Terrorism Department (CTD) has been linked to the crime, while another police officer is still at large, with active attempts to arrest him.

However, Inspector General Memon emphasized that the crime was not supported by the CTD but by an individual associated with the department. He promised that the full force of the law would be applied to those involved and that no officer found on the wrong side of the law would be spared.

Context of the Crime

Prior to the kidnapping, Arsalan had already been dealing with intimidation from a person named Hamid, who was trying to force him to buy US dollars. Despite his refusal, the demands persisted, which ultimately led to the kidnapping and the forced transaction of cryptocurrencies.

This case sheds light on the growing dangers and the need for strong security measures within the crypto community. Therefore, be careful not to flaunt your wealth too much on social media, as this can also attract the attention of criminals.