According to Foresight News, according to Bitcoin.com, the Indian Enforcement Directorate (ED) arrested a man involved in a cryptocurrency extortion case, with the extorted cryptocurrency valued at more than 12 billion rupees (US$144 million). The man involved, Babulal Bhatt, was an investor in the crypto platform Bitconnect. Satish Kumbhani, the promoter of Bitconnect Coin, closed the Bitconnect platform in January 2018 to deceive investors and fled. In order to recover the funds, Bhatt kidnapped two of Kumbhani's employees and extorted 2,091 bitcoins, 11,000 litecoins and 145 million rupees in cash, which is now worth 12.325 billion rupees. Bhatt also distributed 2.89 billion rupees of extortion funds to his accomplices for the purchase of various assets.