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Karnataka High Court Questions Integrity in Bitcoin Scam Investigation

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Karnataka Bitcoin scam senior police officers probe

Posted By  Clayton Graves
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Karnataka Bitcoin Scam: Senior Police Officers Under Investigation

Introduction

The Karnataka Bitcoin scam involves the alleged disappearance of 31 Bitcoins seized from a hacker named Srikrishna (Sriki) in 2017. The High Court has raised serious concerns over the involvement of senior police officers in the case, questioning the integrity of the investigation conducted by the Special Investigation Team (SIT).


Summary of facts
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  • Defendant: Srikrishna (Sriki)
  • Crime: Theft of 31 Bitcoins seized from the hacker
  • Amount Defrauded: 31 Bitcoins (valued at ₹9 crore in 2021)
  • Method: Alleged manipulation of evidence by senior police officers
  • Sentence Received: Investigation ongoing; no verdict yet
  • Investigating Authorities: Special Investigation Team (SIT), High Court of Karnataka

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Breakdown of the Timeline for this alleged scam:

The scam dates back to 2017 when 31 Bitcoins were allegedly stolen from Srikrishna (Sriki) by senior police officers. The investigation has been ongoing, with significant developments in 2021 and 2023. The High Court questioned the integrity of the investigation and the lack of charges against senior police officers in May 2023. A press note issued by the Bengaluru City Police Commissioner in November 2021 was found to be misleading, prompting further scrutiny.

Legal Implications:
The Karnataka Bitcoin scam has significant legal implications, highlighting potential corruption within law enforcement and the need for transparent investigations. The involvement of the High Court underscores the gravity of the allegations and the systemic issues within the police force.
Summary:

The Karnataka Bitcoin scam involves the alleged disappearance of 31 Bitcoins seized from hacker Srikrishna (Sriki). The High Court has raised concerns about the involvement of senior police officers, questioning the integrity of the SIT’s investigation. The case highlights potential corruption within law enforcement and the need for transparent investigations.

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Reference Source: [1] https://indianexpress.com/article/cities/bangalore/karnataka-bitcoin-scam-police-officers-probe-9420513/

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