TechFlow reported on January 8, according to Decrypt, that a Pakistani cryptocurrency trader, Mohammed Arsalan, was kidnapped in an incident involving local law enforcement officers and forced to pay a ransom of $340,000 in cryptocurrency. According to local media Dawn, police have arrested seven suspects, including an anti-terrorism department official, while one police officer involved remains at large.
The kidnappers initially contacted the victim under the pretense of purchasing US dollars, then forcibly took him on December 25, compelling him to transfer funds from his Binance account. Jeremiah O'Connor, Chief Technology Officer at encryption security firm Trugard, said such kidnapping cases targeting cryptocurrency holders are on the rise.
