A Russian MMA fighter was arrested over an armed highway robbery in Bali.

Khasan Askhabov, 30, allegedly pounced on the BMW carrying Ukrainian Igor Lermakov, 48, while it was navigating a narrow road in South Kuta, Badung Regency, on December 15.

Dashcam footage shows two black vans blocking their way from the front and back.

Four masked men wearing police uniforms, armed with knives, hammers, and guns, stepped out of the vehicles and ran toward them. They allegedly stole cryptocurrency assets.

Alleged victim Igor Lermakov recounted that he and his driver were forced out of the car, blindfolded, and restrained with handcuffs.

'Later that night, I escaped through a window and sought help from the locals,' he said.

The residents then reportedly took him to the Ubud police station, where he was found in a distressed state with injuries to his ears, wrists, left hand, and the back of his head.

Through a police investigation, Khasan was arrested by the joint Ngurah Rai Immigration team and Bali Regional Police on January 31.

He was then reportedly taken to the Bali Regional Police Headquarters for further examination before being released.

Commissioner Ariasandy, Head of the Public Relations Division of the Bali Police, said: 'Mr Askhabov was suspected of being part of a group involved in the robbery of cryptocurrency assets belonging to a Ukrainian national in Bali.

'We believe he was planning to leave Indonesia for Dubai. Currently, we are securing the person concerned at the Ditreskrimum office to find out whether he is really involved or not.'

Police are currently pursuing eight other suspects.