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Pune Cop Kidnapped Crypto Trader to Extort Millions

While working in the cybercrime cell learned, a police constable learned that a crypto trader from Pune has bitcoins worth millions, and accordingly the constable hatched the plan of kidnapping.

A police constable along with 7 others was arrested on Wednesday allegedly for kidnapping a Pune based man to extort bitcoins worth INR 300 crores.

Investigation began when the victim’s friend lodged an FIR with the police, according to an NDTV report.

As disclosed by Zone 2 Deputy Commissioner of Police (DCP), Anand Bhoite, during investigation the police uncovered that constable, Dilip Tukaram Khandare, while working with Pune cyber-crime cell, had found out that crypto trader Vinay Naik possessed bitcoins worth INR 300 crores.

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

He added that the accused had kidnapped Naik from a hotel in Tathawade on January 14.

The kidnappers released the victim the very next day when they realized the police were after them.

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 is the mastermind of this conspiracy.

Cryptocurrencies were created to keep the money safe, identity ‘pseudonymous’, and avoid misuse of regulatory machinery. However, since digital footprints can be trailed, the identity of the owner of a wallet address can be found.

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