Pune cop kidnapped crypto trader for $40 million Bitcoin ransom

business-standard.com:

A police constable accused of kidnapping a local cryptocurrency trader and demanding Bitcoin ransom worth $40 million has been arrested along with seven accomplices, authorities said Wednesday.

Dilip Khandare had learned that a fellow resident of Pune owned a lucrative Bitcoin wallet and hatched a plan to kidnap him.

He and his co-conspirators allegedly kidnapped 38-year-old Vinay Naik on January 14 and demanded he transfer his entire digital currency holdings, worth Rs 300 crore ($40 million), along with another Rs 8,00,000 in cash.

Naik was let go the next day when the kidnappers realised the police were on their tail.

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We, however, have a request. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the