A Pakistani crypto trader, Mohammed Arsalan, was abducted on December 25 and forced to transfer 340,000 USD in cryptocurrency from his Binance account. The incident occurred in Karachi and involved coercion and physical threats. Seven suspects, including a Counter-Terrorism Department officer, have been arrested in connection with the crime.

The police in Pakistan are still pursuing other individuals involved. This incident highlights systemic issues within the country’s policing and the absence of clear legal frameworks for managing digital assets. The lack of oversight and investor protection in Pakistan leaves traders vulnerable to exploitation.