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According to Odaily, the Indian Enforcement Directorate (ED) has arrested Shailesh Babulal Bhatt from Gujarat for alleged kidnapping, extortion, and violations of anti-money laundering laws. This case involves a significant cryptocurrency-related crime exceeding $144 million. The arrest follows a money laundering investigation initiated by the Indian Ministry of Justice based on a complaint filed by Surat police against Bitconnect Coin founder Satish Kumbhani. Kumbhani allegedly deceived investors and fled after shutting down the Bitconnect platform in January 2018. Bhatt, who had invested in Bitconnect, kidnapped two of Kumbhani's employees to recover his funds. He extorted 2,091 Bitcoins, 11,000 Litecoins, and 145 million rupees in cash, now valued at 12.325 billion rupees. Bhatt also distributed 2.89 billion rupees of the extorted funds to accomplices for acquiring various assets.