The recent reports of a short-term kidnapping and theft involving crypto trader Arsalan Malik have triggered intense reactions across Pakistan, particularly within the crypto community.
While some express solidarity, others have taken to social media to mock his loss, raising uncomfortable questions about the ethics of internet humor in the face of personal tragedies.
Arsalan Malik, a well-known crypto trader from Karachi, claims that he was forcibly taken into a police mobile vehicle by five individuals in plain clothes, who later looted him of a staggering $300,000. The ordeal allegedly unfolded on December 25, when Malik was abducted from outside his residence in the city’s Manghopir area. According to police reports, the suspects, dressed in police uniforms, transferred the equivalent of 3.4 million dollars into multiple accounts during the brief kidnapping.
Arsalan Malik’s response
In response to the sensational media coverage of the incident, Malik expressed his frustration, saying that he never intended for these personal matters to be made public. He told reporters, “I don’t know why the media is covering this without my permission. I didn’t want this to be disclosed.” He also clarified accusations from some circles that he had been involved in fraudulent investment activities, stating, “If anyone had given me money for investment, let them come forward and provide proof. I have never taken money from anyone.”
Malik, who has had considerable success in the crypto market, elaborated on his recent profits. He stated that in the last 30 days, his profit and loss (PNL) report showed gains of over $80,000, and just last week, he earned over $18,000. His post, where he mentioned these figures, was intended to reassure the public that he wasn’t facing bankruptcy, as some might assume.
In the face of such ridicule, Arsalan Malik’s emotional plea also spoke of his faith in divine intervention. “Whatever happens, happens by the will of Allah. If this were the worst moment of my life, I would have already been gone, but Allah had better plans for me. I am alive for a reason,” he expressed. “I’ve never taken anyone’s money, and no one will take mine either. If it’s in God’s will, this money will come back to me. My faith says so.”
Reaction from a fellow crypto trader
One of Arsalan’s peers, Umair, a fellow crypto trader, spoke out on the issue, urging the public to reconsider their approach to the situation. Umair, despite having past disagreements with Arsalan, stood by him, emphasizing the gravity of the situation. He pointed out that if the allegations are true, this could happen to anyone in the industry—whether they are an influencer, a trader, or an investor. He questioned why the focus was on memes instead of addressing the more serious implications of such an incident.
Umair’s response sheds light on an important point: the need for a more responsible reaction. He called for the focus to shift towards verifying the details and addressing the broader issue of security within the crypto space, rather than indulging in baseless speculation. His message highlights an uncomfortable truth—when people in the community suffer, it should be a time for solidarity, not mockery.
Furthermore, the details of Arsalan’s story raise critical questions about the safety of individuals within the crypto industry. Whether the incident was orchestrated by real authorities or a case of mistaken identity, the possibility of being targeted for such significant sums of money is a grim reminder of the dangers associated with high-stakes investments and the lack of regulation in the space.
Public’s Reaction
The public’s reaction to the incident raises an even more pressing question—how did we, as a society, arrive at a place where the suffering of an individual is treated as fodder for humour and entertainment? The crypto world is often seen as a space where individuals take high risks for potentially high rewards, but this incident underscores the consequences of those risks can sometimes be catastrophic.
As this story unfolds, one can’t help but wonder: Will this be a wake-up call for the crypto community and its stakeholders to come together in solidarity, or will it continue to be a breeding ground for mockery and mistrust?
