The Indian Enforcement Directorate arrested 2 BitConnect-related suspects for alleged kidnapping and Bitcoin extortion.

Techub News reports, according to India Today, that the Indian Enforcement Directorate (ED) has arrested two suspects, Nikunj Pravinbhai Bhatt and Sanjay Kotadia, in the BitConnect cryptocurrency scam case. The case involves kidnapping, Bitcoin extortion, and money laundering. The victims were forced to hand over 2,254 Bitcoins, 11,000 Litecoins, and approximately 1.45 billion rupees in cash. Some of the Bitcoins were converted into Ethereum and USDT for transfer. Currently, the ED has frozen and seized assets worth about 1.9 billion rupees. The total assets seized and frozen in this case amount to 217 billion rupees, and the investigation is still ongoing.