AITK for not helping my in-laws

32M, got married 4 years back. My wife is also a software professional. No kids yet. I earn 2L and she earns 60k per month. Last year we got to know that my wife's brother lost all his savings and had taken multiple loans on credit cards and loan apps for 50L for his online betting. My wife wanted to help them by giving her jewellery (given to her during our marriage by her parents) but I objected and we had huge fights. He earns 1.5LPM and is not able to meet interest payments with his salary. His parents have given them their total savings 15L, His wife's parents have given him another 10L by taking loan on their plot. Which was used to repay high interest app loans. Still he is unable to meet credit card and house loan (in which only my FIL, MIL stay) EMIs.

Now his wife has started taunting us that we haven't helped at all and he has also stopped talking to us as we haven't helped them financially. I'm ok with my wife bringing her parents over to live with us or sending money to them for their expenses. But I'm not ok to help BIL who gambled all his families and his daughter's future. Now they (bil + his wife and her family) are making us look evil as we haven't helped. Every month this issue occurs and they emotionally blackmail my wife and her parents to force me to help them. My wife still has her wedding gold with her worth 20L which might not for long.

I have been saving up since last 10 yrs to buy my dream house. I have been postponing the purchase as I wanted to have less loan amount. 2bhk costs min 1cr in my city and I have saved 40L. Not sure I will be able to buy now as they will taunt my wife even more. My wife would be happy if I accept to sell her gold to help them but I don't really see my bil or his wife care much about finance planning and this gold will be down the bottomless pit of her brother's debt.

No one in the family including his wife knows the actual amount of debt. He has been hiding it and blackmails to commit suicide if we ask for his credit score report or loan statements.

My own parents are not super well off but good enough to just survive on the interest of their savings in the village. I have never sent them money or gifts and have been saving religiously. If my parents came to know of this fiasco or if they know I have helped them they will feel bad and I will have to face another huge fight with my parents. And my parents also have been asking me to buy a house in the city.

Edit: some example of taunts, Asking my wife to place a return on amazon when she order a rakhi with a gift for her brother last year.

My wife loves her niece and has given soo many gifts to her since our marriage like cycle, diamond earrings...etc. Now, they don't let the 6yr old niece to visit my wife or even talk over the phone. Why brainwash a kid.

TLDR: BIL lost ~50L in gambling which he took from credit cards and loan apps. He already had a house loan of 35L. His wife wants me to help repay. AITK for not giving a helping hand.