Mohammed Arsalan is a Pakistani trader of cryptocurrency who was abducted in an elaborate scheme involving local law enforcement officials. Arsalan’s captors were released when he paid them $340,000 (in crypto)
A recent report published by a local English language news outlet revealed that seven people have already been arrested as a result of the investigation. Dawn. According to the report, an unidentified policeman remains at large. An officer from the Pakistani Counter-Terrorism Department is also among those arrested.
According to reports, the kidnappers forced the Binance trader of 30 years old to pay $340,000 out of his account balance. Five men dressed in civilian clothing abducted the trader on December 25 after repeatedly contacting the kidnappers, pretending they were looking to purchase U.S. Dollars from him.
This news comes after reports in November that an Ukrainian man had been forced to transfer USDT worth 250,000 by a criminal group who held him hostage. In November, the police began investigating the abduction of Dean Skurka. He was the CEO of Toronto’s WonderFi Technologies. After paying a ransom of $720,000, he was released.
Jeremiah O’Connor told us that he is the co-founder and chief technology officer of crypto cybersecurity company Trugard. Decrypt News that is worth reading “underscores a troubling, though not unprecedented, trend of kidnapping and extortion targeting individuals for their digital assets.” Byron Boston, a former Dallas Police officer and CEO at Crypto Track and Crypto Track, noted and agreed. “cryptocurrency-related kidnappings are increasingly common.”
O’Connor’s advice includes minimizing the public’s exposure to cybercrime, using wallets with multiple signatures and transactions that are time-locked, and practicing a general awareness of situations.
“The rise in crypto-related extortion and kidnappings calls for stronger international collaboration among law enforcement agencies, improved regulatory frameworks, and enhanced education on operational security for those engaged in the crypto space,” He also added.
According to a local newspaper, the people who committed the crime had committed other crimes. The inspector assured journalists that there would be no mercy shown to law enforcement agents involved in the kidnapping.
Boston Noted “the involvement of corrupt law enforcement officials in kidnappings further complicates investigations.” He explained to me that “criminals with access to sensitive information or investigative methods can undermine efforts to trace and recover stolen funds.”
Arsalan’s anger was expressed in a Facebook post on December 31. He said that he was angry. “ashamed to be a citizen of this country.” “He ended his message with: “Don't bother me by calling or messaging me. I am very depressed, mentally dead.”
Stacy Elliott edited this article.