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Karnataka: Abductors of bizman’s grandson demand ransom in bitcoins

The boy, grandson of a businessman, was kidnapped from outside his residence on Thursday evening.

Written by Ralph Alex Arakal | Bengaluru |
Updated: December 19, 2020 9:16:06 am
Bitcoin, US dollar, Bitcoin exchange, digital currency, digital currency usage, bitcoin value, bitcoin latest news, how to invest in bitcoin, bitcoin value in us dollar, bitcoin value in indian rupeesA coin representing Bitcoin cryptocurrency (Photographer: Luke MacGregor/Bloomberg)

The Karnataka Police on Friday stepped up search for an abducted eight-year-old boy after calls were made demanding ransom in bitcoins. Anubhav, the grandson of a businessman, was kidnapped from outside his residence on Thursday evening.

According to the complaint filed by the child’s family, the incident took place in Ujire, a town near Dharmasthala in Dakshina Kannada district. It said Anubhav, the grandson of businessman AK Shivan, was picked up by some people in a white Tata Indica.

“An FIR has been filed at the Belthangady police station and an investigation is underway. Abductors have made calls to the child’s mother, demanding ransom in bitcoins. However, they have reduced the ransom amount from Rs 17 crore to Rs 10 crore to Rs 25 lakh as of Friday evening, possibly sensing that they will be nabbed soon,” Belthangady Circle Inspector Sandesh PG told the

The police have put together four different teams to investigate the case. The teams include personnel with expertise in locating the numbers from which the ransom calls were made. Special teams have been checking vehicles at borders and different parts of the state to track down the culprits, police said.

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SP BM Laxmi Prasad, who visited the child’s residence on Friday, said the police suspect that the abductors are known to the family. “We are trying to find out why the kidnappers are keen on demanding ransom in bitcoins,” he added.

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