Three police officials from Pakistan were involved in a bitcoin kidnapping ransom according to the latest cryptocurrency news that reached our website today.
One of the officials named Mazhar Abbas worked as a telecommunications manager for the Deputy Commissioner of the city.
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Abbas was arrested on March 23rd and the other two officials were guards at the high court judge, both of whom arrested the same day, named Mohsin Abbas and Mohammad Arif.
Another man, called Mohammad Tahir is also involved in the extortion and kidnapping because he claimed to be a BTC exchanger in the area. He was accused of helping the kidnappers by changing the ransom paid in Bitcoin.
The kidnappers used a green license plate which they put on a rental car and they later used it to perform the kidnapping. The kidnapped man, who was an IT professor, was held against his will for 20 million rupees. Shahid Naseer was kidnapped on March 19th. His family already paid 2.5 million rupees worth of BTC and when the kidnappers got the money, this is how they were caught.
The 2.5 million rupees is 9 BTC by the current price. The police managed to track down the sent BTC and was able to locate the kidnappers. It turns out that one of the kidnappers used to be Naseer’s student who learned about cryptocurrency in the professor’s class.
Cryptocurrencies but especially Bitcoin are being more and more used in extortion, ransom and other malicious means of payment. For example, back in January, an American citizen was abducted in Costa Rica and the kidnappers demanded a ransom of $1 million in Bitcoin. The ransom was paid but the man was not brought back to his family.
Also, two African men were accused and arrested for kidnapping a young boy and demanding a Bitcoin ransom. Shortly after, another man from Norway this time was abducted and his kidnappers demanded $9 million in Monero this time, because it is known that the cryptocurrency is able of secret and anonymous transactions.
As bad as it sounds, events like these show that the interest in cryptocurrency and how powerful and advanced they are is only growing.
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