Police Officers Among Suspects in Major Crypto Robbery
Eight suspects, including police officers, have been apprehend
ded in connection with a major cryptocurrency heist in Karachi, valued at over Rs90 million. The incident also involved the abduction of cryptocurrency trader Muhammad Arsalan Malik on the night of December 25, 2024, in Karachi’s Manghopir area.
Recovery of Stolen Assets
During the investigation, authorities recovered Rs12 million in cash, a Mercedes worth Rs7 million, and prize bonds valued at Rs900,000.
The arrested suspects are currently on a five-day remand as the investigation continues. Police are focused on recovering the remaining stolen assets and identifying other suspects involved in the crime.
Police in Karachi have recovered a Mercedes and 12 million PKR ($40K) from suspects accused of forcing a crypto trader to transfer $340K in cryptocurrency during a December kidnapping.#nukta #nuktapakistan #karachi #cryptocurrency #sindhpolice #binance #usdt pic.twitter.com/G3yzHBJY2l
— Nukta Pakistan (@NuktaPakistan) January 13, 2025
Alleged Transfer of Cryptocurrency by Police Officers
The incident saw police officers allegedly transferring $340,000 worth of cryptocurrency (USDT) from Malik’s online accounts.
Ali Raza, the prime suspect, was arrested early in the investigation but was later released under a suspected “barter system” with the police. His share of over Rs800,000 remains unrecovered. Reports suggest that over 14 individuals were detained, but many were released after paying bribes.
Official Statements and Investigation Progress
SSP Anil Haider of the Anti-Violent Crime Cell (AVCC) confirmed the progress of the investigation and denied any official complaints of misconduct by police officers.
Haider emphasized, “Our immediate priority is recovering the stolen assets and apprehending all culprits. Once this phase is completed, we will investigate any allegations of misconduct against police officers.”
Suspension of Police Officers
Earlier, DIG Asif Ijaz Shaikh of the Counter-Terrorism Department (CTD) suspended three officials for their alleged involvement in the kidnapping of a citizen.
Sub-Inspector Raja Muhammad Basheer, along with constables Muhammad Umar and Sahibzada Ali Raza, were suspended, and their case was transferred to the AVCC for further investigation.
Details of the Abduction
The incident occurred when cryptocurrency trader Arsalan was abducted by police officers in plain clothes, riding a police mobile without a number plate, from Karachi’s Manghopir area.
The kidnappers transferred $340,000 from Arsalan’s account to various other accounts using his mobile phone before releasing him near the Quaid-e-Azam mausoleum.
Following the investigation, AVCC arrested eight individuals, including the police officers involved. However, Constable Ali Raza, who was also posted in the CTD Civil Lines Intelligence Wing, remains at large.
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