Karachi police have apprehended eight suspects, including several policemen, in connection with a major cryptocurrency heist worth over Rs90 million. The suspects are currently under a five-day remand while investigations continue.
The robbery also involved the kidnapping of cryptocurrency trader Muhammad Arsalan Malik, who was abducted on the night of December 25, 2024, in Karachi’s Manghopir area. Arsalan was taken by police officers in plain clothes, traveling in a police mobile without a number plate.
The kidnappers transferred $340,000 from Malik’s account to various other accounts using his mobile phone before releasing him near the Quaid-e-Azam mausoleum. Authorities believe that police officers were involved in transferring the cryptocurrency (USDT) from Malik’s online accounts.
During the investigation, police recovered Rs12 million in cash, a Mercedes worth Rs7 million, and prize bonds valued at Rs900,000. Efforts are underway to recover the remaining stolen assets and identify other suspects involved.
SSP Anil Haider of the Anti-Violent Crime Cell (AVCC) confirmed the progress of the investigation but denied any official complaints of misconduct by the police.
