Five men within the Indian state of Kerala are arrested for allegedly torturing the head of a unsuccessful $62.5 million Bitcoin investment scheme to death. Yahoo! News reported the news on Sept. 2.

Killers believe victim defrauded investors

According to the report, the Dehradun police in Uttarakhand were alerted to the incident once a local hospital found the body of the deceased in a very car abandoned in a parking zone.

Identity documents disclosed that the victim was Abdul Shakoor, 35, from Malappuram in Kerala. Hospital authorities told police that a group of 4 men had brought the body to the car and fled the scene.

Markings on the body indicated that Shakoor had been tortured to death. Dehradun Senior Superintendent of Police (SSP) Arun Mohan Joshi has currently disclosed the details of the investigation, that established that Shakoor had been running a Bitcoin (BTC) investment scheme in Kerala before his apparent murder.

He is reported to own overseen a network of groups that collected cash from investors across numerous regions — to the tune of 450 crore rupees ($62 million).

When the business apparently failed, Shakoor fled Kerala with four members of his core team. he's reported to possess told one of them that his Bitcoin account had allegedly been hacked which he pictured launching his own cryptocurrency so as to pay back investors.

His confidant, however, was unconvinced and suspected that Shakoor still had access to cryptocurrency worth crores of rupees.

He contacted his colleagues to arrange how to extort Shakoor’s password to retrieve the funds.

“Crores of cash would be lost along with his death”

On Aug. 12, Shakoor’s friend took him to Dehdradun. On Aug. 26, he and also the four alternative suspects rented a house, where they proceeded to torture Shakoor to force him to disclose the secret. native police told the media that:

“The suspect tortured him so much to retrieve the secret that Shakoor died. As crores of cash would be lost along with his death, the lads took him to a hospital, hoping for a miracle. However, since that hospital declared him dead, they took him to a different hospital, wherever they received identical response. So, they abandoned the body within the car and fled the hospital.”

Multiple police teams are reported to own traced the 5 suspects using CCTV and local police investigation partners across hotels and transport hubs.

As reported last year, a Russian cryptocurrency investor and blogger murdered by masked assailants in Saint Petersburg once having boasted of his crypto-derived wealth on-line.

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