Police Arrested Another BTC Ransom Kidnapping Suspect In India

The police arrested another BTC ransom kidnapping suspect in India involved in the recent event of kidnapping an eight-year-old son of a local crypto businessman as we reported previously in the bitcoin scams news.

The 100 BTC kidnapping case in Karnataka, India, continues to evolve as the local police arrested another member of the group involved in kidnapping the 8-year old boy and the reports also said that he was the one who abducted the kid in front of his home after he was recruited by the mastermind of the operation. A few weeks ago, the perpetrators demanded a 100 BTC Ransom for the 8-year-old son of a local businessman and investor in crypto after they kidnapped him in front of his house. The police managed to capture six suspects on the case and they were all related to the victim’s family.
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The police in India captured another suspect and he was also connected to the case. However, the police in India captured another suspect who worked as a hotel receptionist suspecting that he had participated in the kidnapping, as per the report. The seventh alleged accomplice in the kidnapping is a Bengaluru resident named Naveen and the police said the mastermind behind the operation contacted him before the abduction and promised a hefty reward for his help. Naveen persuaded one cab driver to assist in kidnapping the kid while he was playing near his home.

In another case of crypto being involved in illicit activities, the Nottingham police seized about $100,000 in virtual currencies while they were executing a warrant. Later, the authorities secured a Restraint Order in order to freeze 500,000 pounds worth of assets including property and vehicles. During the investigations, the officers arrested a 49-year old man who was suspected of fraud and money laundering but then got bailed out. The detective Inspector Nikki Smith who is the head of financial Investigation and lead for crypto said:

 “This investigation has been ground-breaking for us in relation to the seizure and investigation of this cryptocurrency, and all the staff involved in this operation have worked tirelessly to ensure we secure all available evidence and assets.”

BTC and other crypto assets appeared in a few criminal cases like ransomware attacks and kidnapping recently. One of the biggest electronics manufacturers Foxconn suffered a ransomware attack after the hackers infiltrated and compromised data from the company’s American Facility and demanded 1800 BTC or about $34 million.