In a troubling case of short-term kidnapping for ransom, an internationally recognized cryptocurrency trader, JS Rao, was abducted from a local tea shop near Kamran Chowrangi in Karachi’s Gulistan-e-Jauhar area on Monday night. The victim, who recently won a prestigious South Asian Binance trading volume competition, was severely assaulted during the ordeal, resulting in a fractured hand and a broken nose. The perpetrators forcefully gained access to Rao’s digital wallet and transferred between $500,000 and $600,000 worth of cryptocurrency before fleeing the scene with his mobile phones and other valuables in a luxury Toyota Fortuner SUV.
Disturbingly, initial investigation sources have uncovered evidence pointing toward the direct complicity of local police personnel in the crime, prompting law enforcement agencies to intensify their search and probe the incident from multiple angles. In a traumatized statement shared on social media, Rao revealed that his movements had been meticulously tracked through surveillance and geofencing prior to the ambush. Warning that “no crypto trader is safe in Pakistan,” he demanded immediate justice and the recovery of his stolen digital assets from senior police officials, threatening to launch a protest if the authorities fail to act. Meanwhile, official police leadership has yet to release a formal public statement regarding the incident.
