On December 25, 2024, cryptocurrency trader Mohammed Arsalan was kidnapped in Karachi's Manghopir area. The kidnappers, posing as police officers, forced him to transfer $340,000 worth of digital assets from his Binance account before releasing him near the Brigade police station.
After his release, Arsalan filed a First Information Report (FIR) with the Manghopir police. The subsequent investigation, led by the Anti-Violent Crime Cell (AVCC) and the Crime Investigation Agency (CIA), resulted in the arrest of seven suspects, including Ashar, Mohammed Rizwan Shah, Umer Irshad, Muzamil Raza, Tariq Hasan Shah, Noman Riffat, and Umer Jilani. Among those arrested was a Counter-Terrorism Department (CTD) officer, while another police officer remains at large.
Inspector General of Police Ghulam Nabi Memon assured that the department would take strict disciplinary action against any officers involved, including possible dismissal from service.
This case underscores the risks involved in face-to-face cryptocurrency transactions and serves as a reminder to exercise caution when engaging in such activities.
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