SIT Escalates Investigations into Bitcoin Scam

The Special Investigation Team (SIT) tasked with unearthing the intricate details of the alleged Bitcoin scam in Karnataka has intensified its efforts, culminating in the arrest of three individuals. The investigation has been particularly sensitive, with political accusations and high-profile implications, given the alleged involvement of prominent state leaders.

Recent developments have seen the arrests of Nitin Mesharam and Darshit Patel, both hailing from Nagpur, Maharashtra. These arrests, in addition to the earlier detention of Harwinder Singh from Delhi, mark a significant breakthrough in the case.

Nitin Mesharam and Darshit Patel are believed to have connections with the key suspect in the Bitcoin scam, Srikrishna Ramesh, who goes by the alias "Sriki." The SIT is actively probing the extent of their involvement and the extent of monetary gains they derived from the illicit activities.

Harwinder Singh, the first arrest made by the SIT on Thursday, is reported to have played a pivotal role in facilitating money laundering operations for Sriki. The investigation is now honing in on the role of these three individuals in the broader financial aspects of the scam, aiming to ascertain the exact amount of funds they might have received from the hacking proceeds.

The Bitcoin case, at the heart of this investigation, revolves around the hacking of Karnataka's government e-procurement site, which allegedly occurred twice, resulting in the misappropriation of a staggering Rs. 11.5 crore. The breach initially came to light in 2021 during the tenure of Basavaraj Bommai as the Chief Minister.

Sriki, the primary suspect in the case, had been apprehended by the police but was subsequently released after a brief period of questioning, triggering allegations from the then-opposition Congress leaders who accused several BJP figures of complicity.

Upon assuming power, the Congress-led government in Karnataka swiftly established the SIT and directed officials to expedite the inquiry into the case. In a significant development last month, the SIT conducted a raid at Sriki's residence in Bengaluru, adding further momentum to the ongoing investigation.

Simultaneously, the Enforcement Directorate (ED) is conducting a parallel investigation into the case and has filed a comprehensive charge sheet against 18 individuals, prominently featuring Sriki as the prime suspect.

The ED's allegations include not only the hacking of government websites but also cyberattacks on cryptocurrency exchanges and poker platforms, deepening the complexity of this Bitcoin scandal. (eom)