New Delhi: A cryptocurrency angle has emerged at the heart of the abduction and sexual assault of two foreign women in Pakistan, a case in which the grandson of Deputy Prime Minister and Foreign Minister Ishaq Dar is one of the four accused. Muhammad Raza Dar is reported to have lured the women to Pakistan for a cryptocurrency deal, and it now appears that related assets in the possession of the women were what their attackers wanted in addition to a ransom.
Muhammad Raza Dar and three others were arrested last week after allegedly abducting and sexual assaulting two foreign nationals, one Dutch and the other Venezuelan. The four arrested persons were sent on a five-day physical remand. Their next court appearance is on 8 July.
In a case sending shockwaves through Pakistan, cryptocurrency is the newest revelation that has emerged in a statement reported to have been made by one of the foreign women to a magistrate. In the statement, she said that their attackers demanded access to a computer containing cryptocurrency assets after forcibly entering the Lahore house the two women were staying in after their arrival in Pakistan. She said the attackers threatened to kill them unless they handed over the cryptocurrency assets.
The two women had travelled to Pakistan on 29 June, and Muhammad Raza Dar, who they had met in Singapore in October 2025, had allegedly helped get them their visas. They were taken to a residence in Lahore’s Defence Housing Authority after landing in Pakistan. Once at the residence, they were sexually assaulted and confined, it is alleged.
The four accused allegedly demanded $1.5 million as a ransom from the survivors’ families for their safe release, as reported by the American news agency The Media Line. The father of one of the survivors made an overseas call from Spain to Lahore’s Rescue 15 emergency helpline, reporting that his daughter and her friend vanished after entering Pakistan.
The Dutch ambassador to Pakistan became involved in the case after being informed that one of the women was a Dutch citizen, which led to an immediate response from the provincial government led by Maryam Nawaz Sharif.
Lahore Deputy Inspector General (Operations) Faisal Kamran did not dispute Muhammad Raza Dar’s relation with Ishaq Dar in statements to the press. Kamran Sunday told the media that the police carried out raids in Sargodha, Shahdara and Defence Housing Authority, when the investigation began.
In her statement, the Dutch woman said that her phone was used make ransom calls, and that the initial demand was for $1.5 million. Later, when $100,000 was received by Dar, the two women were told that they would be taken to the airport. On the way to the airport the car carrying the women crashed into another vehicle, giving them the opportunity to jump out of the car and run to a nearby shop.
The police eventually were able to arrest the suspects and take the survivors for medical examination following their consent and the involvement of the respective embassies. Eventually, the women departed the country on 3 July.
The case took a twist when a Station House Officer (SHO) forcibly entered the official residence of a district magistrate to record the statements of the two survivors last Friday. The SHO was booked for the incident. Kamran apologised to the judiciary for the SHO incident at a press briefing on Sunday.
Pakistan has in recent months moved to position itself as a hub for cryptocurrency. The country in the last year has positioned itself as a key cryptocurrency market, making headway with the US. Bilal Bin Saqib, the 35-year old ‘crypto-bro’ and former chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) has been wooing a number of influential businesspersons from the US, including Zachary Witkoff, the chief executive officer of World Liberty Financial, the crypto platform co-founded by President Donald J. Trump.
(Edited by Nardeep Singh Dahiya)
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