In a latest growth to the continuing Investigation of the Bengaluru Bitcoin rip-off, the Particular Investigation Crew (SIT) is intensifying its efforts to unveil the reality behind the alleged theft of presidency funds and cryptocurrency funds to state officers. Whereas the probe is in full swing, the hacker’s bail stays in query, pending a medical analysis for drug dependancy. This case, as reported by Indian Categorical, marked by arrests and political controversy, continues to captivate the general public’s consideration.

Bengaluru Bitcoin Rip-off Investigation Replace

The SIT of the Karnataka CID’s relentless investigation into the Bengaluru Bitcoin rip-off has reached a vital juncture. Notably, this case revolves round Srikrishna Ramesh, also called Sriki, and his associates, who’re accused of stealing authorities funds and making cryptocurrency funds to state officers to hide their actions.

In the meantime, the crypto scandal first got here to gentle in November 2020, when the Central Crime Department (CCB) of the Bengaluru police uncovered a stash of Bitcoins in Sriki’s possession. Sriki initially confronted arrest for drug procurement on the darknet with cryptocurrency. Nevertheless, his case quickly expanded into alleged hacking actions, concentrating on on-line poker websites, cryptocurrency exchanges, and authorities techniques.

Sriki’s arrest within the drug case led to the revelation of his involvement within the hacking of the Karnataka authorities’s e-procurement cell. Notably, the occasion resulted in a theft of a staggering Rs 11.5 crore, in line with experiences.

The Ongoing Controversy

The latest developments on this ongoing saga have added new layers of intrigue. In the meantime, the SIT is aggressively pursuing the cancellation of Sriki’s bail, whereas conducting searches and arrests involving people who had been a part of the unique investigation in 2020 and 2021.

Nevertheless, the courtroom’s resolution to await a medical analysis for Sriki’s drug dependancy points has additional delayed the proceedings.

Notably, one of many unique investigators, Sridhar Poojar, has approached the excessive courtroom, difficult a case registered by the SIT relating to alleged tampering of units seized from the hacker and his associates in 2020. The excessive courtroom has instructed the SIT to not take any motion towards Poojar till October 9, pending additional investigation.

Earlier this week, the SIT arrested three people tied to the hacker gang’s cash laundering scheme, shedding gentle on the motion of the stolen Rs 11.5 crore from the Karnataka e-procurement portal in July 2019. In the meantime, the ED beforehand charged them with laundering these funds, and a considerable sum has already been recovered.

Nonetheless, the hacker and his associates have taken their case to the Karnataka Excessive Court docket, searching for to dismiss the e-procurement cell hacking case. They argue {that a} police inspector, fairly than the designated CID cybercrime station officers, carried out the investigation.

In the meantime, because the SIT works diligently to uncover the reality, the case stays within the highlight, drawing widespread consideration and hypothesis.