The Special Investigation Team (SIT) is intensifying its investigation into the Bengaluru Bitcoin fraud, focusing on Srikrishna Ramesh and his friends. The case began in November 2020 when Sriki's Bitcoin cache was discovered by the Bengaluru police's Central Crime Branch. The hacker's release on bail is still uncertain, and his release is awaiting a drug abuse assessment. The case has been the subject of political debate and arrests, with Sriki's bail being actively sought by the SIT. Sridhar Poojar, one of the initial investigators, has filed a petition with the high court to contest the SIT's registration of a case alleging tampering with devices taken from the hacker and his friends in 2020. The e-procurement cell hacking case has been brought before the Karnataka High Court by the hacker and his colleagues.
The Special probe Team (SIT) is stepping up its attempts to uncover the truth behind the alleged theft of public monies and cryptocurrency payments to state officials in a fresh update to the ongoing probe into the Bengaluru Bitcoin fraud. The hacker's release on bail is still in doubt while the investigation is ongoing and is awaiting a drug abuse assessment. The public's interest in this case, which has been the subject of political debate and arrests, according to Indian Express, continues to grow.
The unrelenting probe into the Bengaluru Bitcoin scam by the SIT of the Karnataka CID has reached a turning point. This case is notable because it centres around Srikrishna Ramesh, popularly known as Sriki, and his friends, who are accused of stealing public funds and paying state officials in cryptocurrency to hide their crimes.
The crypto controversy, meanwhile, first surfaced in November 2020 when Sriki's Bitcoin cache was discovered by the Bengaluru police's Central Crime Branch (CCB). Sriki was initially threatened with arrest for using cryptocurrencies to buy drugs on the dark web. However, his case quickly grew to include alleged hacking actions against bitcoin exchanges, government networks, and online poker sites.
After Sriki was detained in connection with the narcotics case, it was discovered that he had hacked the e-procurement unit of the Karnataka government. Apparently, a stunning Rs 11.5 crore worth of property was stolen as a result of the incident. There are now more intriguing subplots to this ongoing saga as a result of recent developments. Sriki's bail is being actively sought after by the SIT in the meantime, and others who were involved in the first inquiry in 2020 and 2021 are being searched for and detained in connection with that.
Furthermore, Sridhar Poojar, one of the initial investigators, has filed a petition with the high court to contest the SIT's registration of a case alleging tampering with devices that were taken from the hacker and his friends in 2020. In order to allow for further investigation, the high court has ordered the SIT to hold off taking any action against Poojar until October 9.
The SIT detained three people connected to the cyber gang's money-laundering plan earlier this week, providing information on the transfer of the Rs 11.5 crore taken from the Karnataka e-procurement platform in July 2019. They were previously accused of laundering these funds by the ED, and a sizeable quantity has already been confiscated.
The e-procurement cell hacking case has nonetheless been brought before the Karnataka High Court by the hacker and his colleagues in an effort to get it dismissed. They contend that a police inspector rather than the officers from the assigned CID cybercrime station handled the inquiry. The case continues to get extensive attention and speculative interest as the SIT relentlessly pursues the truth.
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