Pakistan Counter-Terrorism Official Arrested in $340K Crypto Kidnapping Scheme

Pakistani Counter-Terrorism Official Charged in $340,000 Cryptocurrency Kidnapping Scheme

  • Pakistani Counter-Terrorism Department official detained for alleged involvement in $340,000 USDT cryptocurrency theft.
  • Crypto trader Mohammad Arsalan Malik was kidnapped and forced to transfer funds from his Binance account.
  • Authorities have recovered $220,000 in various forms including cryptocurrency, cash, and assets.
  • Eight suspects arrested including two Counter-Terrorism Department officials and Head Constable Ali Raza.
  • Case highlights growing concerns about law enforcement involvement in cryptocurrency-related crimes.

A Pakistani law enforcement official faces charges in an elaborate cryptocurrency heist where a trader was kidnapped and forced to transfer $340,000 worth of Tether (USDT) from his digital wallet. The incident marks a concerning trend of authority figures allegedly participating in crypto-related crimes.

- Advertisement -

Mohammad Arsalan Malik, the victim, was lured into a meeting through multiple requests to exchange dollars. The scheme unfolded when Malik met with potential buyers at a restaurant, where plain-clothed officers in an unmarked police van reportedly abducted him and coerced him to transfer USDT from his Binance account.

Investigation officials confirmed the recovery of $220,000 through seized cryptocurrency, fiat currency, a luxury vehicle, and prize bonds. Head Constable Ali Raza, identified as the primary suspect, received a seven-day remand from the anti-terrorism court.

The case has prompted strong responses from law enforcement leadership, with the inspector general stating “We do not spare anyone” regarding officers involved in criminal activities. Eight of nine suspects are currently in custody, including two Counter-Terrorism Department officials.

This incident follows a pattern of increasing cryptocurrency-related crimes targeting high-profile individuals. In January, the CEO of hardware wallet manufacturer Ledger was kidnapped, with attackers demanding cryptocurrency as ransom.

- Advertisement -

USDT, commonly known as Tether, is a stablecoin pegged to the US dollar, making it a preferred choice for traders due to its relative price stability and ease of transfer across borders.

✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.

Previous Articles:

- Advertisement -

Latest News

Ripple Fixes XRP Ledger Node Crash Bug

Ripple released a crucial bug fix in version 3.1.2 of its "rippled" server software...

Bitcoin Tax Exemption Window Targets 2026, Report Says

The Bitcoin Policy Institute (BPI) is targeting a March-August 2026 window to pass a...

Meta to End Instagram Encrypted Chat in May

Meta will end encrypted Instagram chats after May 8, 2026.The move follows internal warnings...

Judge Blocks Trump Subpoenas for Fed’s Powell

A federal judge ruled that subpoenas from the Justice Department targeting Federal Reserve Chair...

Woz’s Crypto Token Plummets 99.9%

Efforce, an energy efficiency token project co-founded by Apple's Steve Wozniak, has lost over...

Must Read

18 Countries With No Privacy Laws According To UN (List)

Privacy laws are legal frameworks designed to protect personal data from unauthorized access, misuse, or disclosure.Lack of privacy laws can lead to misuse of...