Notes

Bitcoin Fraud Involving India’s Officer Exposed
I personally just read on Coinatory regarding a police officer from India who was arrested for misappropriating ₹1.8 crores (approximately $216,000) worth of Bitcoin connected to a probe into a cryptocurrency fraud.

This officer, Chandrahar SR, was a former inspector with the Central Crime Branch (CCB). Reportedly, he accessed the Bitcoin wallet of a hacker named Srikrishna Ramesh during an ongoing investigation.

This crypto scam goes back to 2017 and involved hacking into cryptocurrency exchanges like Bitfinex and Unocoin, leading to illegal gains of approximately INR 5.5 crores ($660,000). Srikrishna Ramesh, along with his partner Robin Khandelwal, attempted to launder the stolen funds through Bitcoin. However, they were caught in 2020. Initially, the CCB claimed that the Bitcoins were irretrievable, accusing Ramesh of manipulating the “Bitcoin core application” to throw off the investigation.

It turns out that Chandrahar is accused of coercing Khandelwal to move the funds while detained and later erased all evidence of the transactions. The Special Investigation Team (SIT) found that Chandrahar, along with two other CCB officers and a private cyber expert by the name of Santosh Kumar, accessed the Bitcoin wallet at Kumar's office in Bengaluru between December 30, 2020, and January 6, 2021.


The accusations against Chandrahar and his partners are serious, such as illegal detention, breach of trust by a public official, and evidence destruction. Chandrahar was evading law enforcement until he was finally arrested at his home in North Bengaluru. Two more police officers have been detained in connection with this Bitcoin fraud.

Lately, India has experienced a surge in cryptocurrency scams and frauds, causing regulatory authorities to increase their scrutiny of the country's cryptocurrency sector. Central Crime Branch inspector Bitcoin wallet rising popularity of cryptocurrencies has unfortunately drawn in a number of illicit activities, making it essential for law enforcement and regulatory bodies to stay vigilant.

In conclusion, this situation highlights the weaknesses within the crypto world and the necessity of stringent regulatory measures. It also underscores the need for integrity and accountability among law enforcement officials handling such sensitive investigations. As Coinatory reported, the incident involving Chandrahar SR is a stark reminder of the complexities and dangers linked to crypto scams and the vital role regulatory oversight plays in safeguarding the financial system.

Here's my website: https://coinatory.com/cryptocurrency-news/indian-officer-arrested-for-bitcoin-scam-19443/