Indian law enforcement arrested two suspects, Nikunj Pravinbhai Bhatt and Sanjay Kotadia, in a case involving the BitConnect cryptocurrency scam. This fraudulent operation has led to kidnapping and extortion.
The victim was forced to surrender 2,254 BTC and 11,000 LTC, alongside 1.45 billion rupees in cash. Some extorted funds were converted into ETH and USDT for transfer.
Authorities have seized assets valued at approximately 1.9 billion rupees, contributing to a total asset count of 217 billion rupees involved in the case, highlighting significant financial misconduct.
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