Armed Robbers Extort $93,000 in Bitcoin in Pakistan Armed Robbers Extort $93,000 in Bitcoin in Pakistan


Armed Robbers Extort $93,000 in Bitcoin in Pakistan

updated on:20 Feb 2021

At least three Pakistan residents took several foreign nationals hostage and extorted roughly $93,000 worth of Bitcoin (BTC) in what was the first-ever armed crypto robbery in the country, Geo News reported today.

Per the publication, two suspects were arrested in the Pakistani city Gujranwala. Another suspect, who is reportedly still at large, was named as the prime suspect because he allegedly invited the foreign nationals to Lahore to “make an investment.”
Under the guise of offering a ride “to show them the city,” the suspects allegedly kidnapped five foreign nationals, including one from Germany and one from Switzerland, at gunpoint.

To add insult to injury, the suspects also reportedly sprinkled some heroin on their victims, threatening to report them as drug dealers.

As a result, the robbers forced the hostages to transfer 14.7 million Pakistani rupees—or $93,000—worth of Bitcoin to their account.

According to the police, the suspects were ultimately tracked down by their vehicle’s plate numbers.

As Decrypt reported, a group of men reportedly stole over $500,000 from a woman who traded cryptocurrency in Hong Kong in mid-January.

Prior to that, a 37-year-old Bitcoin seller also fell victim to robbers in Hong Kong, losing about three million yuan ($461,000) in cash.

Share this Blog with your friends


No Comments

Suggested Content

Bitcoin 'Doesn’t Fulfill Basic Properties of Money': ECB Board Member

updated on:10 Apr 2021

Isabel Schnabel, Member of the Executive Board of the European Central Bank (ECB), has described Bit

Continue Reading

Bitcoin ETF Approval Will Happen: Morgan Creek’s Mark Yusko

updated on:9 Apr 2021

Morgan Creek Capital Management CEO Mark Yusko has expressed his confidence that a Bitcoin ETF will

Continue Reading

Ukrainian Officials Own $2.67 Billion in Bitcoin: Report

updated on:9 Apr 2021

Civil servants and officials in Ukraine are holding a significant amount of Bitcoin (BTC) and other

Continue Reading

JP Morgan's Jaime Dimon: Bitcoin Regulation a ‘Serious Emerging Issue’

updated on:8 Apr 2021

The legal and regulatory status of Bitcoin and other cryptocurrencies is something that needs to be

Continue Reading

Bitcoin Toys With $60k, BNB Hits All-Time High and Ethereum Creeps Past $2,000

updated on:3 Apr 2021

It’s all systems go for the crypto market.  Binance Coin hit a new all-time high of $3

Continue Reading