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Policeman Charged with for Cryptocurrency Misappropriation in Scandal from Srikrishna Ramesh's Wallet Latest Update: Cryptocurrency Theft
According to Coinatory about an officer in India who was caught embezzling a significant amount of INR 1.8 crores (about $216,000) in cryptocurrency linked to a notable crypto scam investigation. The story involves Inspector Chandrahar, a former officer with the Central Crime Branch (CCB), who reportedly gained access to the Bitcoin wallet of hacker Srikrishna Ramesh , a key figure in an continuing case.

The scam in question started in 2017, including cyber-attacks on major cryptocurrency exchanges like Unocoin and Bitfinex. These breaches led to unlawful earnings totaling about 5.5 crores INR (around $660,000). Srikrishna, along with his associate Khandelwal Robin, attempted to launder the misappropriated funds through BTC. However, their activities were cut short when they were arrested in 2020.

Initially, the CCB reported the cryptocurrencies as unrecoverable, blaming the hacker of altering the “Bitcoin Core” to mislead authorities. This seemed like a finished matter until the Special Investigation Team (SIT) uncovered shocking facts. Supposedly, SR Chandrahar coerced Khandelwal into transferring the funds while in custody and then erased all traces of these deals.

As per the police report filed by the investigators, the inspector, with the assistance of two other CCB officers and a cybersecurity expert named Santosh, accessed the Bitcoin wallet at his office in Bengaluru between December 30th, 2020 and January 6th, 2021. This elaborate plan left no traces, but eventually, the facts were uncovered.

Inspector Chandrahar now faces multiple accusations including illegal confinement, public trust breach, and destruction of evidence. His capture from his house in North Bengaluru is a important breakthrough in the investigation. Moreover, two other unnamed officers have also been arrested in relation to this crypto fraud, further underscoring the degree of the corruption involved.

India has seen a rise in digital currency scams and frauds in recent times, which has led regulatory authorities to enhance their oversight of the nation's cryptocurrency sector. The Chandrahar scandal is a blunt reminder of the flaws within the system and the extremes to which some persons will go for personal gain.

According to Coinatory, this incident shows the complex relationship between law enforcement and the crypto world. It also brings up critical concerns about the protection of cryptocurrencies and the ethics of those assigned to safeguard them. The ongoing measures to reduce such deceptions are essential in guaranteeing the stability and stability of the cryptocurrency market in India and beyond.


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