Suspect Arrested In 60 Bitcoin Ransom Case, Revealing Police Involvement In The Criminal Group
Suspect Arrested In Bitcoin Ransom Case, Revealing Police Involvement In The Criminal Group
As more criminals arise in the crypto world, it is becoming even more necessary to maintain a transparent blockchain ledger. These crimes are happening around the world, giving some bad press to the crypto industry. However, following the kidnapping of Shahid Naseer and subsequent ransom demands, the Pakistani crime ring involved has finally been busted.
Naseer, an IT professor, was captured when the crime ring demanded to be paid out 20 million rupees for his return. The kidnapping occurred on Marth 19th, and the person that authorities believe is the most likely suspect is a student of the professor – Faisal Yousuf. However, the plot thickens as new information reveals that three police officers were involved with the ransom, with one that worked in the Deputy Commissioner’s office to answer phones – Mazhar Abbas.
Abbas was arrested on March 23rd. Not long after, the local authorities arrested the other two police officials were arrested. Those officials, who were guards of a high court judge, are Mohsin Abbas and Mohammad Arif. Others were involved with helping the ransom to be initiated – a Bitcoin trader in the area named Mohammad Tahir and a man named Abdul Rauf. The kidnappers of the professor put a green license plate on the car that they used for the kidnapping, which is meant to show the public that the vehicle is for official use.
The family of Professor Naseer ended up paying out the $2.5 million rupees worth of Bitcoin, hoping that the captors would set him free. As the transaction happens, the police were able to catch the kidnappers through the trail that they left on the Bitcoin ledger. This amount would be about 9 BTC.
The only connection that the suspect appears to have with Naseer is that he was a student, though Naseer also had a connection with the police involved, clearly. Bitcoin has continually been used in some of these modern kidnappings. There was an abduction in Costa Rica only two months ago, resulting in demands for $1 million of BTC, which was fulfilled. The victim was not immediately returned. In the same month, two men in Africa captured a young boy, also demanding a ransom to be paid in Bitcoin. A kidnapping further back involved a Norwegian millionaire, and his kidnappers demanded $9 million in the Monero privacy coin.