In 2018, Shailesh Bhatt, a builder from the Indian state of Gujarat, was abducted and forced to hand over 176 bitcoins along with cash as ransom. Although Indian law does not yet recognise bitcoin as legal tender, the court treated the matter as a case of kidnapping and extortion, and has sentenced the culprits to life imprisonment.

Lawmakers and Lawkeepers Among the Guilty

     What makes the case particularly significant is that the court found several individuals in positions of authority guilty. Those convicted include a former Member of the Legislative Assembly (MLA), a former Superintendent of Police, and a former Police Inspector—highlighting serious corruption within the system. In total, 14 individuals have been sentenced to life imprisonment.

High Court Appeal Likely to Focus on Legal Technicalities

     The defence has stated its intention to challenge the verdict in the Gujarat High Court. While there may be ambiguity in Indian law regarding cryptocurrencies like bitcoin, laws surrounding kidnapping and extortion are well-established. It is expected that the appeal will focus on legal technicalities, and all attention is now on how the High Court responds—whether the sentences are upheld or revised.