Police arrest gang demanding Bitcoin as ransom


Police arrested a gang demanding Bitcoin as ransom after kidnapping a person, a local media outlet reported while quoting a police report.

Lahore’s deputy commissioner’s (DC) phone operator Mazhar Abbas was part of the seven-member gang, the report revealed, adding Abbas was arrested on March 23 at an official ceremony when he was with the DC.

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

Another suspect is Faisal Yousuf, the student of information technology teacher Prof Shahid Naseer whom the gang kidnapped for Rs20 million ransom on March 19.

Bitcoin is a crypto-currency used as electronic cash.