Gang from Lahore busted for demanding ransom in Bitcoin

Lahore Police has claimed that they have busted a gang of seven members, who kidnapped a person and demanded money in Bitcoins (a type of cryptocurrency or digital currency which is created, accessed and used electronically). The plan was devised in the office of Lahore’s deputy commissioner and the DC’s phone operator Mazhar Abbas is the main suspect behind this kidnapping including six other gang members.

According to the Lahore police report, Constables Mohsin Abbas and Mohammad Arif, who were the official guards of a high court judge were also involved in this crime. Mohammad Tahir of Lahore and Abdul Rauf of Faisalabad were the Bitcoin dealers in this gang.

Saddar Division SP (Investigation) Rashid Hidayat while speaking to Dawn said, Faisal Yusaf, the student of information technology kidnapped his teacher Prof. Shahid Naseer and demanded a ransom of Rs 20 million in Bitcoin on March 19. They rented a car from Sheikhupura and brought it to the DC’s office where Abbas replaced the registration plate of the car with a green one. SP investigation said, they had arrested the gang members and have recovered the professor as well.

The suspects took Prof. Naseer to Sheikhupura where they kept him to execute their plan and to obtain the ransom money. They called the Asmer Sheikh the complainant in the case and demanded Rs 20 million for the safe return of the professor.

Asmer Sheikh said the kidnappers got the first installment of rupees 2.5 million and were asking to pay the rest of the payment. The police arrested Mazhar Abbas the main suspect on March 23 at an official ceremony when he was with the DC.

Meanwhile, the SP Rashid Hidayat said, three teams of expert police officials traced and arrested the culprits using digital technology.

It must be kept in mind that cryptocurrency trading is currently banned in Pakistan, however, many Bitcoin traders are operating in the country using illegal means.