Satish Kumbhani still at large: an investor scammed attempts a bloody revenge against the founder of Bitconnect

Between late 2017 and early 2018, the Bitconnect platform caused a major scandal by revealing its true operation: a classic Ponzi scheme. Satish Kumbhani, the founder of this cryptocurrency platform, has been untraceable since the project’s collapse, while thousands of investors are left dealing with the aftermath of their massive losses. In this context, a bizarre incident occurred in India: a man, Shailesh Babulal Bhatt, was arrested after kidnapping two of Satish Kumbhani’s associates in an attempt to recover his lost investment.

Bitconnect: When founder Satish Kumbhani Fled International Justice

Bitconnect long promoted an investment program promising impossible returns, attracting investors worldwide. At the time of the collapse, just a week before the crash, the BCC token was still worth over $2.3 billion and ranked 26th among cryptocurrencies. When the truth came out, Satish Kumbhani disappeared, leaving hundreds of thousands of victims to their fate. Despite efforts by international authorities, the Bitconnect founder has never been apprehended.

From Money Loss to Criminal Action: The Case of Shailesh Bhatt

Desperately trying to recover his squandered capital, Shailesh Babulal Bhatt made an extreme decision. In collaboration with accomplices, he targeted the founder’s close associates. The arrest last week in Bangalore revealed a bold plan: kidnapping two key employees of Satish Kumbhani to use as bargaining chips.

According to the investigation by the Directorate of