India Delivers Landmark Verdict: 14 Get Life for Kidnapping Businessman in 752 Bitcoin Extortion Case

Indian court slams maximum sentence on kidnapping ring that demanded cryptocurrency ransom.

The Heist That Shook The Crypto World

Fourteen defendants just learned their fate—life behind bars for orchestrating a brazen kidnapping scheme targeting a wealthy businessman. Their demand? A staggering 752 Bitcoin ransom.

Justice Served Cold

The court didn't flinch at the digital nature of the crime. This verdict sends a clear message: crypto crimes carry real-world consequences. No fancy technology shields perpetrators from traditional justice.

When Digital Meets Physical

This case blurs lines between physical violence and digital asset extortion—proving that even in our high-tech era, old-school kidnapping still pays… until it doesn't. The sentence reflects the severity of combining bodily harm with financial predation.

Finance's Ironic Twist

Here's the kicker: had they just HODL'd those 752 Bitcoin instead of resorting to crime, they might've retired comfortably—guess impatience really is the investor's worst enemy.

In brief

• In 2018, Shailesh Bhatt recovers 752 bitcoins lost in the BitConnect scam, becoming a target.
• Former MP Nalin Kotadiya then orchestrates his kidnapping with corrupt Gujarat police officers.
• Bhatt is kidnapped, beaten, and forced to transfer 34 bitcoin and promise 3.6 million $.
• After investigation, 14 defendants are sentenced to life imprisonment; 173 witnesses were heard at the trial.

Bitcoin under high tension: review of a crypto-predator case 

It was in 2018. Shailesh Bhatt, an entrepreneur from Surat, managed to recover part of his funds lost in the BitConnect case: 752 bitcoins. The rumor quickly spread. Figures in uniform sensed the scent of loot. It was 11 police officers from Amreli, a former senior CBI officer and former BJP MP Nalin Kotadiya who then devised a plan. Objective: to seize these bitcoins.

On February 11, Bhatt was kidnapped and taken to Keshav Farm, NEAR Gandhinagar. Beaten, threatened, he was forced to give up 34 BTC and organize a transfer of 3.6 million dollars. The extortion did not stop there: the kidnappers also recovered 200 bitcoins, said to belong to one of his associates.

The trial revealed a well-oiled machine, where uniforms no longer served justice, but their greed. Items seized at SP Jagdish Patel’s home, such as Gold of dubious origin, were confiscated by the court.

The verdict shaking India: 14 life sentences pronounced

In August 2025, judge B.B. Jadav delivered his verdict: 14 life sentences. The prosecution mobilized 173 witnesses. It is one of the most publicized crypto trials in the country. The main defendant, Kotadiya, former parliamentarian, becomes the symbol of deeply rooted political corruption.

This trial marks a turning point. It questions the integrity of institutions supposed to protect citizens. It also reminds that the crypto community is not only prey to anonymous hackers, but also to corrupt elites.

Some truths of the case

• 752 bitcoins extorted from Bhatt, worth over 80 million $ at current value;
• 14 life sentences, a first in a crypto case involving officials;
• 173 witnesses heard during the trial;
• Jagdish Patel, former IPS, possessed stolen gold;
• 5 crores INR (about 600,000 $) were allegedly paid to a CBI officer.

In this burning context, it’s hard to look away from another news story: in France, a former crypto trader was recently held hostage, his kidnappers demanding a ransom of 10,000 euros. An almost derisory amount compared to the millions in the Indian scene, but the message is clear. Crypto kidnappings no longer have borders.

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