SIT on the money trail in bitcoin scam: were ‘diverted’ bitcoins cashed out in local banks?
1 year ago

SIT on the money trail in bitcoin scam: were ‘diverted’ bitcoins cashed out in local banks?

The Hindu  

The Special Investigation Team probing the bitcoin scam is close to identifying a money trail that may finally establish that bitcoins were indeed forcefully stolen, diverted into wallets and encashed. Investigation of several officials posted with the Parappana Agrahara prison where hacker Srikrishna Ramesh alias Sriki was lodged in and Central Crime Branch and other source-based information, has reportedly given SIT officials leads that bitcoins, so “diverted” from Sriki, may have been encashed in local Indian banks, through a web of transactions. A source privy to the investigation said they have leads that suggest even high profile beneficiaries cashed out their bitcoins through a circuitous route in local banks. A senior official said the SIT can now try to reverse engineer from the end point bank transactions to the bitcoins and then to hacker Sriki.

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History of this topic

SIT formed to probe into tab fund diversion scam: Mamata
1 month, 1 week ago

SIT formed to probe into tab fund diversion scam: Mamata

Deccan Chronicle  

Kolkata: West Bengal Chief Minister Mamata Banerjee on Friday said that her government has formed a Special Investigating Team to probe into a fraud in which government funds sent to bank accounts of students for purchasing tabs or mobile phones were diverted elsewhere. Six people were arrested in this connection, she said while speaking to journalists at the Bagdogra airport …

Bitcoin scam: SIT records statement of convict in Hindalga jail in Belagavi
5 months, 1 week ago

Bitcoin scam: SIT records statement of convict in Hindalga jail in Belagavi

The Hindu  

The Special Investigation Team of the Criminal Investigation Department recorded the statement of a murder convict in Hindalga prison in Belagavi on July 9 in connection with the bitcoin scam. The convict, Nagendra, had written to the SIT chief offering to give statement about the scam as he was present during the occurrence of a crime in Parappana Agrahara jail …

SIT issues notice to IGP Patil in K’taka Bitcoin scam case
7 months, 1 week ago

SIT issues notice to IGP Patil in K’taka Bitcoin scam case

Hindustan Times  

The Special Investigation Team probing the Bitcoin scam in Karnataka has issued a notice to inspector general of police Sandeep Patil, who was the head of the Central Crime Branch when the scam took place, and was questioned earlier this year, to provide clarifications on the probe conducted against the hacker during his tenure. On Monday, the son of an …

Bitcoin scam: SIT records statement of senior IPS officer
10 months ago

Bitcoin scam: SIT records statement of senior IPS officer

Hindustan Times  

A special investigation team led by additional director general of police Manish Karbikar questioned senior IPS officer Sandeep Patil on Wednesday in connection with the Bitcoin scam. The bitcoins were initially seized from the prime suspects in the Bitcoin scam A few deputy commissioners of police and 10 assistant commissioner of police have also been questioned regarding the Bitcoin scam. …

Investigators transferred bitcoins during probe, destroyed proof: SIT
10 months, 2 weeks ago

Investigators transferred bitcoins during probe, destroyed proof: SIT

Hindustan Times  

The Special Investigation Team of the Criminal Investigation Department, in its probe into the Bitcoin scandal in Karnataka, said that police inspector Prashanth Babu and tech expert Santosh Kumar transferred bitcoins into a cryptocurrency hardware wallet. “They erased the important details related to Sriki’s bitcoin wallets in the Amazon Cloud server and deleted the bash history with the sole intention …

SIT probing Karnataka Bitcoin scam finds accused to have transferred coins to his associate
10 months, 3 weeks ago

SIT probing Karnataka Bitcoin scam finds accused to have transferred coins to his associate

The Hindu  

In the bitcoin scam which is being probed by the Special Investigation Team of the Criminal Investigation Department, one of the accused, identified as Santosh Kumar, had allegedly moved coins to his associate to keep them safe. The Central Crime Branch inspectors who were probing several cases filed against hacker Srikrishna Ramesh aka Sriki were allegedly introduced to Kumar by …

Bitcoin scam: Karnataka SIT in touch with 30 foreign exchanges
11 months, 2 weeks ago

Bitcoin scam: Karnataka SIT in touch with 30 foreign exchanges

The Hindu  

The Special Investigation Team of the Criminal Investigation Department, which is probing the alleged bitcoin scam, is in touch with over 30 foreign-based bitcoin exchanges in a bid to collect evidence on the movement of cryptocurrencies allegedly moved by hacker Srikrishna Ramesh aka Sriki. Sriki, arrested in a darknet drugs case in 2020 by the Central Crime Branch of Bengaluru …

Bitcoin scam: SIT seeks details of hacker Sriki’s stay in Bengaluru Central Prison, officers who were on duty
1 year ago

Bitcoin scam: SIT seeks details of hacker Sriki’s stay in Bengaluru Central Prison, officers who were on duty

The Hindu  

The Special Investigation Team of the Criminal Investigation Department probing the bitcoin scam has issued a notice to the Prison and Correctional Services Department seeking multiple details. According to sources, in a letter sent to the department, the SIT has sought details about hacker Srikrishna Ramesh alias Sriki’s stay in the Bengaluru Central Prison. In the notice issued to the …

Senior prison officials likely to be questioned in Bitcoin scam
1 year, 1 month ago

Senior prison officials likely to be questioned in Bitcoin scam

The Hindu  

The Special Investigation Team probing the controversial Bitcoin scam is likely to question senior officials who were posted with the Karnataka Prisons Department when hacker Sri Krishna was lodged in Parappana Agrahara Central Prison. The SIT during the course of its investigation has reportedly got leads to the hacker being forced to transfer some bitcoins while in judicial custody. Sriki, …

How 5 Indian Americans allegedly laundered $30m in Cash-for-Bitcoin scam in New York
1 year, 1 month ago

How 5 Indian Americans allegedly laundered $30m in Cash-for-Bitcoin scam in New York

Hindustan Times  

Five Indian Americans are reportedly being investigated for an illegal $30million crypto exchange scheme operating in the heart of New York. 5 Indian Americans, Shaileshkumar Goyani, Brijeshkumar Patel, Hirenkumar Patel, Naineshkumar Patel, Nileshkumar Patel, and Raju Patel have been accused of running this illegal Bitcoin exchange with an adept criminal finesse, bypassing the legal scrutiny. The report claims, this individual …

SIT formed to probe Bitcoin scam dating back to previous BJP regime
1 year, 5 months ago

SIT formed to probe Bitcoin scam dating back to previous BJP regime

The Hindu  

The Karnataka government on Monday constituted a Special Investigation Team to reopen and probe an alleged Bitcoin scam that had surfaced during the previous BJP regime. The Bitcoin scam had surfaced during the BJP’s regime and the Congress, which was then in Opposition, had accused the government of trying to cover up the scandal as it involved big names. Since …

Inability to recover bitcoins continues to fuel allegations
3 years, 1 month ago

Inability to recover bitcoins continues to fuel allegations

The Hindu  

The city police that probed hacker Sri Krishna’s cybercrimes and charge-sheeted him in three cases have alleged that he hacked multiple U.S.-based bitcoin exchange wallets and stole over 5,000 bitcoins. Amid a political storm over an alleged “cover-up of bitcoin scam” that the Opposition Congress has alleged involves transactions worth ₹10,000 crore and two prominent polit icians of the State, …

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