• Home
  • About Us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
15 May Thursday, 2025
  • tr Türkçe
  • en English
TurkishNY Radio
No Result
View All Result
  • Home
  • Cryptocurrency
  • Business
  • Economy
  • Home
  • Cryptocurrency
  • Business
  • Economy
No Result
View All Result
  • tr Türkçe
  • en English
TurkishNY Radio
No Result
View All Result
Bitcoin Bitcoin (BTC) $102,348.62 ↓ -1.62%
Ethereum Ethereum (ETH) $2,549.25 ↓ -2.98%
Tether USDt Tether USDt (USDT) $1.00 ↑ 0.00%
XRP XRP (XRP) $2.47 ↓ -5.43%
BNB BNB (BNB) $653.87 ↓ -0.38%
Solana Solana (SOL) $170.88 ↓ -5.69%
USDC USDC (USDC) $1.00 ↑ 0.02%
Dogecoin Dogecoin (DOGE) $0.23 ↓ -4.63%
Cardano Cardano (ADA) $0.77 ↓ -6.31%
TRON TRON (TRX) $0.27 ↓ -2.03%
Sui Sui (SUI) $3.72 ↓ -5.67%
Chainlink Chainlink (LINK) $16.28 ↓ -4.85%
Avalanche Avalanche (AVAX) $23.91 ↓ -7.55%
Stellar Stellar (XLM) $0.30 ↓ -4.84%
Shiba Inu Shiba Inu (SHIB) $0.00 ↓ -6.67%
Hedera Hedera (HBAR) $0.20 ↓ -5.58%
Hyperliquid Hyperliquid (HYPE) $24.83 ↓ -2.74%
UNUS SED LEO UNUS SED LEO (LEO) $8.97 ↑ 1.82%
Bitcoin Cash Bitcoin Cash (BCH) $390.95 ↓ -4.20%
Toncoin Toncoin (TON) $3.08 ↓ -8.23%
Polkadot Polkadot (DOT) $4.78 ↓ -6.50%
Litecoin Litecoin (LTC) $98.29 ↓ -3.91%
Pi Pi (PI) $0.92 ↓ -23.89%
Monero Monero (XMR) $348.01 ↑ 2.20%
Pepe Pepe (PEPE) $0.00 ↓ -4.19%
Bitget Token Bitget Token (BGB) $4.90 ↑ 2.05%
Dai Dai (DAI) $1.00 ↑ 0.01%
Ethena USDe Ethena USDe (USDe) $1.00 ↓ -0.01%
Uniswap Uniswap (UNI) $6.36 ↓ -5.78%
Bittensor Bittensor (TAO) $427.34 ↓ -6.69%
NEAR Protocol NEAR Protocol (NEAR) $2.88 ↓ -8.17%
Aptos Aptos (APT) $5.50 ↓ -7.53%
Aave Aave (AAVE) $225.48 ↓ -2.00%
OKB OKB (OKB) $53.92 ↓ -2.13%
Ondo Ondo (ONDO) $0.97 ↓ -4.31%
Kaspa Kaspa (KAS) $0.12 ↓ -6.59%
Internet Computer Internet Computer (ICP) $5.45 ↓ -6.17%
Ethereum Classic Ethereum Classic (ETC) $19.05 ↓ -5.66%
GateToken GateToken (GT) $21.68 ↓ -1.80%
Cronos Cronos (CRO) $0.10 ↓ -3.26%
Mantle Mantle (MNT) $0.76 ↓ -5.51%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $12.67 ↓ -6.62%
Render Render (RENDER) $4.83 ↓ -8.96%
VeChain VeChain (VET) $0.03 ↓ -8.36%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.24 ↓ -7.75%
Ethena Ethena (ENA) $0.38 ↓ -11.19%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↓ -0.04%
Filecoin Filecoin (FIL) $2.95 ↓ -6.43%
Arbitrum Arbitrum (ARB) $0.41 ↓ -6.40%
Algorand Algorand (ALGO) $0.23 ↓ -7.48%
Cosmos Cosmos (ATOM) $4.88 ↓ -5.86%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.78 ↓ -8.36%
Celestia Celestia (TIA) $2.82 ↓ -11.70%
Worldcoin Worldcoin (WLD) $1.18 ↓ -8.93%
Bonk Bonk (BONK) $0.00 ↓ -7.97%
Sonic (prev. FTM) Sonic (prev. FTM) (S) $0.55 ↓ -7.15%
First Digital USD First Digital USD (FDUSD) $1.00 ↑ 0.02%
Maker Maker (MKR) $1,799.42 ↓ -5.20%
KuCoin Token KuCoin Token (KCS) $11.65 ↑ 2.00%
Jupiter Jupiter (JUP) $0.50 ↓ -11.64%
Stacks Stacks (STX) $0.88 ↓ -10.45%
Optimism Optimism (OP) $0.78 ↓ -8.53%
Fartcoin Fartcoin (FARTCOIN) $1.28 ↓ -10.97%
Flare Flare (FLR) $0.02 ↓ -2.48%
Sei Sei (SEI) $0.24 ↓ -8.31%
Story Story (IP) $4.50 ↓ -6.48%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.91 ↓ -5.49%
Injective Injective (INJ) $12.38 ↓ -8.38%
Immutable Immutable (IMX) $0.68 ↓ -8.11%
EOS EOS (EOS) $0.77 ↓ -8.00%
Quant Quant (QNT) $97.34 ↓ -1.65%
XDC Network XDC Network (XDC) $0.07 ↓ -4.65%
The Graph The Graph (GRT) $0.11 ↓ -8.74%
DeXe DeXe (DEXE) $12.77 ↑ 0.47%
dogwifhat dogwifhat (WIF) $1.04 ↓ -5.78%
Four Four (FORM) $2.69 ↓ -3.14%
FLOKI FLOKI (FLOKI) $0.00 ↓ -7.82%
Raydium Raydium (RAY) $3.37 ↓ -8.81%
JasmyCoin JasmyCoin (JASMY) $0.02 ↓ -10.09%
Curve DAO Token Curve DAO Token (CRV) $0.69 ↓ -8.61%
Theta Network Theta Network (THETA) $0.91 ↓ -10.31%
Gala Gala (GALA) $0.02 ↓ -9.11%
PayPal USD PayPal USD (PYUSD) $1.00 ↑ 0.01%
Lido DAO Lido DAO (LDO) $1.00 ↓ -9.12%
Walrus Walrus (WAL) $0.66 ↓ -8.75%
IOTA IOTA (IOTA) $0.23 ↓ -7.56%
Pudgy Penguins Pudgy Penguins (PENGU) $0.01 ↓ -4.72%
The Sandbox The Sandbox (SAND) $0.33 ↓ -8.44%
Nexo Nexo (NEXO) $1.28 ↓ -0.67%
Ethereum Name Service Ethereum Name Service (ENS) $22.57 ↓ -6.15%
Core Core (CORE) $0.79 ↓ -4.55%
Tether Gold Tether Gold (XAUt) $3,187.14 ↓ -1.14%
PAX Gold PAX Gold (PAXG) $3,197.41 ↓ -1.03%
BitTorrent [New] BitTorrent [New] (BTT) $0.00 ↓ -6.47%
PancakeSwap PancakeSwap (CAKE) $2.29 ↓ -5.69%
Bitcoin SV Bitcoin SV (BSV) $36.91 ↓ -6.77%
Kaia Kaia (KAIA) $0.12 ↓ -7.47%
Helium Helium (HNT) $3.87 ↓ -0.28%
Brett (Based) Brett (Based) (BRETT) $0.07 ↓ -13.35%
Flow Flow (FLOW) $0.42 ↓ -7.79%
Bitcoin Bitcoin (BTC) $102,348.62 ↓ -1.62%
Ethereum Ethereum (ETH) $2,549.25 ↓ -2.98%
Tether USDt Tether USDt (USDT) $1.00 ↑ 0.00%
XRP XRP (XRP) $2.47 ↓ -5.43%
BNB BNB (BNB) $653.87 ↓ -0.38%
Solana Solana (SOL) $170.88 ↓ -5.69%
USDC USDC (USDC) $1.00 ↑ 0.02%
Dogecoin Dogecoin (DOGE) $0.23 ↓ -4.63%
Cardano Cardano (ADA) $0.77 ↓ -6.31%
TRON TRON (TRX) $0.27 ↓ -2.03%
Sui Sui (SUI) $3.72 ↓ -5.67%
Chainlink Chainlink (LINK) $16.28 ↓ -4.85%
Avalanche Avalanche (AVAX) $23.91 ↓ -7.55%
Stellar Stellar (XLM) $0.30 ↓ -4.84%
Shiba Inu Shiba Inu (SHIB) $0.00 ↓ -6.67%
Hedera Hedera (HBAR) $0.20 ↓ -5.58%
Hyperliquid Hyperliquid (HYPE) $24.83 ↓ -2.74%
UNUS SED LEO UNUS SED LEO (LEO) $8.97 ↑ 1.82%
Bitcoin Cash Bitcoin Cash (BCH) $390.95 ↓ -4.20%
Toncoin Toncoin (TON) $3.08 ↓ -8.23%
Polkadot Polkadot (DOT) $4.78 ↓ -6.50%
Litecoin Litecoin (LTC) $98.29 ↓ -3.91%
Pi Pi (PI) $0.92 ↓ -23.89%
Monero Monero (XMR) $348.01 ↑ 2.20%
Pepe Pepe (PEPE) $0.00 ↓ -4.19%
Bitget Token Bitget Token (BGB) $4.90 ↑ 2.05%
Dai Dai (DAI) $1.00 ↑ 0.01%
Ethena USDe Ethena USDe (USDe) $1.00 ↓ -0.01%
Uniswap Uniswap (UNI) $6.36 ↓ -5.78%
Bittensor Bittensor (TAO) $427.34 ↓ -6.69%
NEAR Protocol NEAR Protocol (NEAR) $2.88 ↓ -8.17%
Aptos Aptos (APT) $5.50 ↓ -7.53%
Aave Aave (AAVE) $225.48 ↓ -2.00%
OKB OKB (OKB) $53.92 ↓ -2.13%
Ondo Ondo (ONDO) $0.97 ↓ -4.31%
Kaspa Kaspa (KAS) $0.12 ↓ -6.59%
Internet Computer Internet Computer (ICP) $5.45 ↓ -6.17%
Ethereum Classic Ethereum Classic (ETC) $19.05 ↓ -5.66%
GateToken GateToken (GT) $21.68 ↓ -1.80%
Cronos Cronos (CRO) $0.10 ↓ -3.26%
Mantle Mantle (MNT) $0.76 ↓ -5.51%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $12.67 ↓ -6.62%
Render Render (RENDER) $4.83 ↓ -8.96%
VeChain VeChain (VET) $0.03 ↓ -8.36%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.24 ↓ -7.75%
Ethena Ethena (ENA) $0.38 ↓ -11.19%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↓ -0.04%
Filecoin Filecoin (FIL) $2.95 ↓ -6.43%
Arbitrum Arbitrum (ARB) $0.41 ↓ -6.40%
Algorand Algorand (ALGO) $0.23 ↓ -7.48%
Cosmos Cosmos (ATOM) $4.88 ↓ -5.86%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.78 ↓ -8.36%
Celestia Celestia (TIA) $2.82 ↓ -11.70%
Worldcoin Worldcoin (WLD) $1.18 ↓ -8.93%
Bonk Bonk (BONK) $0.00 ↓ -7.97%
Sonic (prev. FTM) Sonic (prev. FTM) (S) $0.55 ↓ -7.15%
First Digital USD First Digital USD (FDUSD) $1.00 ↑ 0.02%
Maker Maker (MKR) $1,799.42 ↓ -5.20%
KuCoin Token KuCoin Token (KCS) $11.65 ↑ 2.00%
Jupiter Jupiter (JUP) $0.50 ↓ -11.64%
Stacks Stacks (STX) $0.88 ↓ -10.45%
Optimism Optimism (OP) $0.78 ↓ -8.53%
Fartcoin Fartcoin (FARTCOIN) $1.28 ↓ -10.97%
Flare Flare (FLR) $0.02 ↓ -2.48%
Sei Sei (SEI) $0.24 ↓ -8.31%
Story Story (IP) $4.50 ↓ -6.48%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.91 ↓ -5.49%
Injective Injective (INJ) $12.38 ↓ -8.38%
Immutable Immutable (IMX) $0.68 ↓ -8.11%
EOS EOS (EOS) $0.77 ↓ -8.00%
Quant Quant (QNT) $97.34 ↓ -1.65%
XDC Network XDC Network (XDC) $0.07 ↓ -4.65%
The Graph The Graph (GRT) $0.11 ↓ -8.74%
DeXe DeXe (DEXE) $12.77 ↑ 0.47%
dogwifhat dogwifhat (WIF) $1.04 ↓ -5.78%
Four Four (FORM) $2.69 ↓ -3.14%
FLOKI FLOKI (FLOKI) $0.00 ↓ -7.82%
Raydium Raydium (RAY) $3.37 ↓ -8.81%
JasmyCoin JasmyCoin (JASMY) $0.02 ↓ -10.09%
Curve DAO Token Curve DAO Token (CRV) $0.69 ↓ -8.61%
Theta Network Theta Network (THETA) $0.91 ↓ -10.31%
Gala Gala (GALA) $0.02 ↓ -9.11%
PayPal USD PayPal USD (PYUSD) $1.00 ↑ 0.01%
Lido DAO Lido DAO (LDO) $1.00 ↓ -9.12%
Walrus Walrus (WAL) $0.66 ↓ -8.75%
IOTA IOTA (IOTA) $0.23 ↓ -7.56%
Pudgy Penguins Pudgy Penguins (PENGU) $0.01 ↓ -4.72%
The Sandbox The Sandbox (SAND) $0.33 ↓ -8.44%
Nexo Nexo (NEXO) $1.28 ↓ -0.67%
Ethereum Name Service Ethereum Name Service (ENS) $22.57 ↓ -6.15%
Core Core (CORE) $0.79 ↓ -4.55%
Tether Gold Tether Gold (XAUt) $3,187.14 ↓ -1.14%
PAX Gold PAX Gold (PAXG) $3,197.41 ↓ -1.03%
BitTorrent [New] BitTorrent [New] (BTT) $0.00 ↓ -6.47%
PancakeSwap PancakeSwap (CAKE) $2.29 ↓ -5.69%
Bitcoin SV Bitcoin SV (BSV) $36.91 ↓ -6.77%
Kaia Kaia (KAIA) $0.12 ↓ -7.47%
Helium Helium (HNT) $3.87 ↓ -0.28%
Brett (Based) Brett (Based) (BRETT) $0.07 ↓ -13.35%
Flow Flow (FLOW) $0.42 ↓ -7.79%
Home Cryptocurrency

Behind the Screens: The $340,000 Crypto Kidnapping in an Asian Country

Victoria James by Victoria James
6 January 2025
in Cryptocurrency, News
Reading Time: 4 mins read
0
Inside the Shocking $340,000 Crypto Kidnapping in Pakistan

Inside the Shocking $340,000 Crypto Kidnapping in Pakistan

A fateful encounter on Christmas Day, December 25, 2024, saw a cryptocurrency trader in Karachi, Pakistan abducted and forced to transfer $340,000 of crypto assets. A group of armed men associated with CTD abducted Mohammed Arsalan, 30. Seven suspects have been detained to date, with police confirming that they are still working to catch others linked to the crime.

22ccc

Table of Contents

Toggle
    • YOU MAY BE INTERESTED
    • Bitcoin Stalls, Altcoins Rally: Will ETH, SOL, ADA, and DOGE Steal the Show This Week?
    • WazirX Legal Drama Keeps WRX Price in Freefall: What Will Turn It Around?
  • What We Know About the Abduction
  • Arrests and Inquiries
  • A Call for Reform

YOU MAY BE INTERESTED

Crypto price predictions May 2025

Bitcoin Stalls, Altcoins Rally: Will ETH, SOL, ADA, and DOGE Steal the Show This Week?

15 May 2025
WazirX Hack Victims Still Waiting as 85 Percent Plan Stalls

WazirX Legal Drama Keeps WRX Price in Freefall: What Will Turn It Around?

15 May 2025

The Inspector General of Police (IGP) Ghulam Nabi Memon stated that a CTD officer had been arrested and another officer was absconding. The case has added to fears of misuse of power by law enforcement officials.

Karachi
Inside the Shocking $340,000 Crypto Kidnapping in Pakistan

What We Know About the Abduction

Arsalan described being taken at force from Manghopir, one of Karachi’s neighbourhoods, by a group of men in a nondescript police van. They then moved him to a deserted area near the Saddar FIA office. Forcing him to send $340,000 from his Binance account to wallets they controlled.

The kidnappers, hours later, reset Arsalan’s phone to delete all traces of their activity and left him near the Quaid-e-Azam Mausoleum. 

Screenshots posted by the ally, Arsalan, on social media showed multiple transactions in multiple currencies, including substantial amounts of USDT. And while these records could help investigators, they need to be carefully authenticated.

Arrests and Inquiries

An extensive operation to trace the suspects was initiated by the Anti-Violence Crime Cell (AVCC), with SSP Aneel Haider Minhas in the lead. The arrested men are Mohammed Rizwan Shah, Tariq Hasan Shah, also known as Amir, Muzamil Raza, Umer Jilani, Umer Irshad, Noman Riffat, and Haris, also known as Ashar.

Although authorities painted the suspects as repeat violators, there is no publicly available indication that they had been convicted previously. While police have begun to use footage from security cameras and other means to reconstruct the event, authorities are also attempting to discover any connection between the suspects and the missing people. 

Suspect interactions prior to the incident. Arsalan’s interactions with the suspects before the kidnapping puzzle. Several weeks previously, as he explained, a gentleman named Hamid had approached him with an invitation to help with currency and related resource exchanges. Arsalan had declined, yet Hamid later organized a gathering with others, including Zohaib, Arsalan’s buddy, midway through the meet-up. 

During a conference in Arsalan’s office on 24th December, three persons, including Hamid and the others, welcomed Arsalan to a particular restaurant where other collaborators were present and pressured Arsalan into going with them. 

Why did he accept to spend some time with individuals for whom he seemed to have had no affection? In the aftermath, it is unknown if the kidnapping of the suspects was planned or opportunistic. Law Enforcement Response. Memon has portrayed rogue officers who engage in isolated misconduct contrary to the police’s commitment to punitive action. 

However, activists have urged for a more wide-ranging investigation and transparency to help restore the public’s trust in its law enforcement. Victim’s Statement. Arsalan posted on Facebook after the incident, claiming the tragedy of losing a life’s work. “I will conduct an inquiry and hold the perpetrators accountable,” he said, despite criticisms of allegedly contriving the issue. 

Furthermore, Arsalan urged that the officers handle the investigation in person. Experts worried about whether Arsalan would recover the financial losses of individuals engaged in the incident, and no investigations aimed at finding the suspects. The Effect on Crypto Traders.

ADVERTISEMENT

This incident underscores the vulnerabilities cryptocurrency traders face in Pakistan amidst limited legal protections for digital assets. Experts also say the increasing use of decentralized financial systems that prioritize anonymity makes tracking and recovering stolen funds difficult for law enforcement.

“The likes of such crimes underline the need for regulatory measures and better public awareness to protect digital assets,” said a cybersecurity expert.

Abduction
Inside the Shocking $340,000 Crypto Kidnapping in Pakistan

A Call for Reform

Arsalan’s experience has revealed both systemic failures with respect to law enforcement integrity and the need for consumer protections for cryptocurrency users in Pakistan. Experts say this case could serve as a catalyst for legislative changes that they say would help to ensure a safer environment for holders of digital assets.

The outcome, as the investigation unfolds, could set a standard for how Pakistan deals with new risks in both the physical and digital economy. As the crypto world waits for some form of justice, let us hope that some real steps are taken so that this doesn’t happen again.

Stay connected with TurkishNY Radio by following us on Twitter and LinkedIn, and join our Telegram channel for more news.

1. What was the $340,000 crypto kidnapping out of Karachi? 

A cryptocurrency trader in the Pakistani city of Karachi was abducted and forced to transfer $340,000 from his Binance account to wallets controlled by his kidnappers, including rogue law enforcement officers.

2. How many suspects were detained in the crypto kidnapping case? 

The anti-violence crime cell arrested seven suspects, one of whom is an officer with the Counter-Terrorism Department. Further inquiries are being made to find more suspects in the case.

3. What hurdles do investigators encounter in this case? 

The anonymity of decentralized finance systems makes tracking stolen funds difficult. Another challenge is verifying whether the transaction screenshots the victim provided were legitimate.

4. What does the case mean for cryptocurrency traders in Pakistan? 

Silvergate Sees Root Causes of Crypto Trading Vulnerabilities in Emergency Downgrade: SEC Side Action ‘Important’ in Long Run The incident highlights vulnerabilities in crypto trading and emphasizes that robust regulations, improved asset security measures, and public awareness are needed to prevent such crimes from recurring in the future.

Tags: $340000Mohammed ArsalanPakistanWallets
Previous Post

Is Altcoin Season Around the Corner? Key Historical Signals Unveiled

Next Post

Robert Kiyosaki’s Bitcoin Predictions Spark Market Interest

Victoria James

Victoria James

I offer insightful, well-researched, and engaging news coverage writing. Helping readers cut through the noise with ideas about market movements, blockchain technologies, regulatory developments, and more.

SIMILAR NEWS

Crypto price predictions May 2025
News

Bitcoin Stalls, Altcoins Rally: Will ETH, SOL, ADA, and DOGE Steal the Show This Week?

15 May 2025
WazirX Hack Victims Still Waiting as 85 Percent Plan Stalls
Cryptocurrency

WazirX Legal Drama Keeps WRX Price in Freefall: What Will Turn It Around?

15 May 2025
image 124
Cryptocurrency

Toncoin Bridge Shuts, Near Eyes $10—Is Qubetics Still One of the Top Cryptos for Massive Growth?

14 May 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
DMCA
PROTECTED

Categories

  • Business
  • Cryptocurrency
  • Economy
  • en
  • News
  • Politics
  • World

Recent Posts

  • Bitcoin Stalls, Altcoins Rally: Will ETH, SOL, ADA, and DOGE Steal the Show This Week?
  • WazirX Legal Drama Keeps WRX Price in Freefall: What Will Turn It Around?
  • Toncoin Bridge Shuts, Near Eyes $10—Is Qubetics Still One of the Top Cryptos for Massive Growth?
  • CME Group to Launch XRP Futures on May 19
  • Binance Lists NEXPACE (NXPC) on May 15 — A New IP-Based Token Enters the Market

Site Navigation

  • Home
  • About Us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact

TurkishNY Radio

Banner 1
Banner 2
No Result
View All Result
  • Home
  • Cryptocurrency
  • Business
  • Economy
  • tr Türkçe
  • en English

  • English