Kidnappings, threats, crypto and bitcoin. This explosive cocktail, formerly relegated to thrillers, is now invited into our connected reality. From Dubai to Lagos, from Bangkok to Paris, kidnappings linked to the crypto sphere are constantly increasing. Behind the golden mirror of the rapid profit, a parallel world activates in the shadows, aiming at the holders of digital wallets. In India, the curtain came across a case deemed worthy of a black film: a former BJP deputy and eleven police officers condemned for an crypto rap.
In short
- In 2018, Shailesh Bhatt recovers 752 bitcoins lost in the BitConnect scam, and became a target.
- The ex-deputy Nalin Kotadiya then orchestrates his kidnapping with corrupt police officers from Gujarat.
- Bhatt is kidnapped, beaten and forced to transfer 34 bitcoin and promise $ 3.6 million.
- After investigation, 14 accused are sentenced to life; 173 witnesses were heard at the trial.
Bitcoin under high tension: Back on a case of cryptocurrency
It was in 2018. Shailesh Bhatt, Surat entrepreneur, managed to recover a part of his lost funds in the BitConnect case: 752 bitcoins. Very quickly, the rumor spreads. Uniform figures smell the smell of booty. 11 police officers from Amreli, an old high ranking of the CBI and the ex-deputy BJP Nalin Kotadiya who then set up a plan. Objective: take control of these bitcoins.
On February 11, Bhatt was kidnapped and brought to Keshav Farm, near Gandhinagar. Beaten, threatened, he is forced to sell 34 BTC and organize a transfer of $ 3.6 million. The extortion does not stop there: the kidnappers also recover 200 bitcoins, supposed to belong to one of its associates.
The trial revealed a well -oiled mechanics, where uniforms no longer served justice, but their greed. Elements seized at the home of SP Jagdish Patel, like dubious gold, were confiscated by the court.
The verdict that shakes India: 14 pronounced perpetuities
In August 2025, judge BB Jadav delivers his verdict: 14 Lifetime prison sentences. The prosecution mobilized 173 witnesses. It is one of the most publicized cryptocurrency in the country. The main accused, Kotadiya, ex-parliamentary, becomes the symbol of deeply rooted political corruption.
This trial marks a turning point. He questions the integrity of institutions supposed to protect citizens. He also recalls that the crypto community is not only in the grip of anonymous hackers, but also to misguided elites.
Some file truths
- 752 bitcoins extorted to Bhatt, or more than $ 80 million in current value;
- 14 perpetuity convictions, a first in a crypto case involving officials;
- 173 witnesses heard during the trial;
- Jagdish Patel, former IPS, had stolen gold;
- 5 INR crores (about $ 600,000) would have been paid to a CBI officer.
In this burning context, difficult to look away from another news item: in France, a former crypto trader has recently been kidnapped, its kidnappers demanding a ransom of 10,000 euros. An almost derisory sum compared to the millions of the Indian scene, but the signal is clear. Crypto abutments have no borders.
Maximize your Cointribne experience with our 'Read to Earn' program! For each article you read, earn points and access exclusive rewards. Sign up now and start accumulating advantages.
