 "Pune cop kidnapped crypto trader for $40 million Bitcoin ransom")
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.
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