Karnataka Bitcoin Scam Investigation: Unraveling the Mystery Behind Missing Cryptocurrency

The Karnataka Bitcoin scam investigation has taken a dramatic turn as a Special Investigation Team (SIT) delves into the disappearance of cryptocurrency linked to a notorious hacker. The probe has revealed potential police complicity and raised questions about the integrity of the investigation process.

Key Takeaways

• SIT conducts scientific tests on cyber expert Santhosh Kumar K S.
• Allegations of police involvement in facilitating illegal cryptocurrency transfers.
• The investigation has political ramifications, linking it to the previous BJP government.

Background of the Investigation

In November 2020, Srikrishna Ramesh, known as Sriki, was arrested for hacking and cryptocurrency-related crimes. Following his arrest, a significant amount of Bitcoin, valued at approximately Rs 850 crore, went missing. The SIT was formed in July 2023 to investigate the alleged corruption and mishandling of the case by the Bengaluru police under the previous BJP administration.

Scientific Tests on Cyber Expert

Santhosh Kumar K S, the CEO of Group Cyber ID Technologies, has been at the center of the investigation. The SIT conducted brain mapping and polygraph tests to determine his knowledge of the missing Bitcoins. These tests were ordered by the court and conducted with Kumar's consent.

• Key Allegations Against Kumar:
  1. Illegally accessing the crypto wallet of Robin Khandelwal, an associate of Srikrishna.
  2. Facilitating the transfer of Bitcoin to his own wallet during police custody.
  3. Deleting crucial digital evidence related to the case.

Police Involvement and Allegations

The SIT has suggested that police officers may have facilitated the illegal access to Srikrishna's crypto wallets. This raises serious concerns about the integrity of the investigation and the potential for corruption within the police force.

• Evidence of Tampering:
  • Forensic reports indicate that digital evidence was manipulated while in police custody.
  • Allegations of police officers taking possession of Bitcoins after Srikrishna's arrest.

Political Ramifications

The investigation has significant political implications, particularly for the BJP, which governed Karnataka during the time of the alleged misconduct. The Congress government, now in power, has accused the previous administration of corruption and mishandling the case.

• Previous Allegations:
  • The Congress party has claimed that police officials pocketed a large cache of Bitcoins.
  • The SIT's findings could lead to further political fallout and accountability for those involved.

Conclusion

As the Karnataka Bitcoin scam investigation unfolds, the implications of the findings could resonate beyond the realm of cryptocurrency. With allegations of police corruption and the potential for political repercussions, the case highlights the need for transparency and accountability in law enforcement. The SIT's ongoing efforts to trace the missing Bitcoins and uncover the truth will be closely watched by the public and political analysts alike.

Sources

• Karnataka Bitcoin scam: cyber expert undergoes scientific tests as SIT hunts for trail of missing cryptocurrency | Bangalore News - The Indian Express, The Indian Express.
• Pump.Fun Scandal Explodes: Livestream Chaos and $30K Scams Exposed!, Coinpedia.