In the Pakistani city of Karachi, seven individuals have been apprehended on suspicion of kidnapping a well-known cryptocurrency trader.
According to local authorities, the suspects used intimidation and force, subjecting the victim to severe physical and psychological abuse in an attempt to extort a significant sum of money.
The trader was held captive for several days and eventually released only after he was coerced into transferring $340,000 worth of funds in digital assets to the perpetrators via the cryptocurrency platform Binance.
Shockingly, among those arrested is an officer from the Counter-Terrorism Department, raising concerns about corruption within law enforcement. Investigators have launched further inquiries to determine the involvement of additional police personnel, including another officer suspected of aiding the criminal gang.
Authorities have emphasized their commitment to ensuring that all individuals responsible are brought to justice, as the case highlights the growing risks associated with cryptocurrency transactions and the need for stricter security measures.