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Pakistan police officer remanded over USDT theft and kidnapping

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Pakistan police officer remanded over USDT theft and kidnapping

A Pakistan Counter-Terrorism Department official has been remanded over his alleged role in stealing $340,000 worth of tether (USDT) from a kidnapped crypto trader.

Trader Mohammad Arsalan Malik claims he met various buyers after an individual called Hamid repeatedly asked to purchase dollars from him.

Malik said that two individuals asked for $30,000 and told him that somebody called Ashar would drop off his payment.

Pakistani media reports that the three waited for Ashar at a restaurant. He reportedly arrived at 1am, followed 40 minutes later by a police van with no number plate and a number of plain-clothed officers.

These officers allegedly proceeded to abduct Malik, take him to another location, and force him to transfer $340,000 in USDT from his Binance account.

Afterward, his kidnappers reset his phone and dropped him off near a mausoleum.

According to the investigative officer at yesterday’s anti-terrorism court hearing, $220,000 had been recovered in the form of crypto, cash, a luxury car, and prize bonds.

Two Counter-Terrorism Department officials and Head Constable Ali Raza are among the nine suspects, eight of whom have been arrested. Raza is reportedly the prime suspect and was issued a seven-day remand by an anti-terrorism court judge yesterday.

Earlier this month, the inspector general of police said, “We do not spare anyone,” adding that authorities would take action against any policeman found guilty.

Last month, the CEO of crypto hardware wallet firm Ledger was kidnapped and a large crypto ransom was demanded. His abductors reportedly cut off his finger and sent a video of the mutilation to his company.

Source

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