Kidnappers Who Held Bitcoin Traders for 80 BTC Ransom Arrested

Law enforcement officials in India have busted a criminal gang responsible for the kidnapping of three people, including two bitcoin traders, according to local news outlet Hindustan Times.

The kidnappers asked for a ransom of 80 bitcoin (around $840,000 USD at press time) to be paid in exchange for the release of the two traders before kidnapping the third victim. 

The victims were held captive for over two weeks and kept in a flat on the ninth floor of an 11-story building in the Bhankrota area, located in Jaipur, where they were repeatedly tortured.

The deputy commissioner of the local police, Vikas Sharma, revealed that the police first discovered the kidnappers’ den while investigating an unrelated carjacking. According to Sharma, one of the kidnappers’ accomplices was found loitering around the area with a pistol. 

Upon interrogation, he revealed the whereabouts of his gang, which led to the members’ subsequent arrest.

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Source: Bitcoinmagazine