RATE Group | Criminal Gang Abducts and Tortures Cryptocurrency Traders, Demands Massive Bitcoin Ranso…
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Criminal Gang Abducts and Tortures Cryptocurrency Traders, Demands Massive Bitcoin Ranso…

15 Jul Criminal Gang Abducts and Tortures Cryptocurrency Traders, Demands Massive Bitcoin Ranso…

Posted at 18:29h in Cryptocurrency News by

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A criminal gang operating in India kidnapped and tortured cryptocurrency traders in recent weeks before demanding 80 bitcoins as ransom, police say.

The ordeal—which lasted more than two weeks for the victims—came to an end yesterday as seven people linked to the gang were arrested, the Hindustan Times newspaper reported. Law enforcement in Jaipur city said the police operation on Sunday lasted 13 hours.

Three men had been held captive for 15 days inside a high-rise building and were beaten or tortured, deputy commissioner of police (DCP) Vikas Sharma told local media. The individuals were named as Luftan Shaikh, 19, Mohammad Shazad, 36 and Malang Shah, 44.

“The gang kidnapped Shaikh and Shazad, two bitcoin traders, and demanded 80 bitcoin worth ₹8 crore ($1.2 million). Shah was kidnapped two days later. The gang demanded ₹10 lakh ($15,000) from his family members,” the deputy commissioner said in a statement. The price of digital currency bitcoin fluctuates daily, which…

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