Eight, including cop, held for kidnapping man for Bitcoin worth Rs3 billion

At least eight people, including a policeman, have been arrested in Pune’s Pimpri Chinchwad for allegedly abducting a man to extort bitcoin cryptocurrency worth Rs300 crore (Dh147 million), the police informed on Wednesday.

According to Zone 2 Deputy Commissioner of Police (DCP) Anand Bhoite, during the investigation, it was revealed that a constable, Dilip Tukaram Khandare, while working with Pune cybercrime cell, had learnt that share trader Vinay Naik has bitcoin cryptocurrency worthRs 300 crore.

“Following this, Khandare hatched a conspiracy with other history sheeters to kidnap Vinay Naik and extort bitcoins,” he said.

Bhoite added that the accused had abducted the victim of Tathawade from a hotel on January 14. The investigation began after an FIR was registered by the victim’s friend.

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As per the police, fearing arrest, the accused released the victim and dropped him at a nearby area. The victim then informed the police that he was abducted for bitcoins.

The arrested accused have been identified as Sunil Ram Shinde, Vasant Shyamrao Chavan, Francis Timothy D’Souza, Mayur Mahendra Shirke, Pradip Kashinath Kate, Dilip Tukaram Khandare, Nico Rajesh Bansal, Shirish Chandrakant Khot, and constable Khandare being the mastermind of this conspiracy.

All accused are in police custody. Further investigation is underway.

• India