Kidnapping for bitcoin ransom: Police rescue minor in Kolar, six arrested | Mangaluru News – Times of India
MANGALURU: Four police teams of Dakshina Kannada district police had launched a massive search for an eight-year-old boy reportedly kidnapped from Ujire in Belthangady taluk on Thursday evening and rescued him near Malur in Kolar around 5am on Saturday. Police have also arrested six persons.
According to police, they were continuously monitoring movement of abductors and tracked them near Malur in Kolar district. The abductors were arrested and the boy was rescued with the help of local police personnel on Saturday early morning. The arrested persons and boy are being brought to Dakshina Kannada to produce before the court.
The boy was abducted on Thursday evening and they demanded 60 bitcoins, which is approximately Rs 10 crore, as ransom. Police suspect that issues with bitcoin business may be the reason for the abduction. Hours after the abduction, miscreants demanded 100 bitcoins as ransom and on Friday, they lowered it to 60 bitcoins. Abductors who were in constant touch with family were conversing through Whatsapp call/message, which couldn’t be easily tracked.