BENGALURU – The Karnataka Special Investigation Team (SIT) is intensifying its probe into the alleged use of cryptocurrencies for corruption by hacker Srikrishna Ramesh, also known as Sriki, as he was in police custody. The investigation uncovered links implicating members of the Bharatiya Janata Party (BJP) and law enforcement officials in corrupt activities.
The SIT, after a thorough review of a charge sheet filed in 2021, is now seeking to cancel Sriki’s bail. The move comes after he admitted to bribing officials with cryptocurrencies while in custody of the Bengaluru Crime Police. The investigation also revisits interviews and details from a 2018 case that involved cryptocurrency litigation and political lineage.
On April 14, 2021, when Sriki was about to be released from Bengaluru Central Jail, blockchain analysts, in collaboration with Whale Alert, reported suspicious transactions. These transactions were linked to the infamous Bitfinex exchange heist. Home Minister G Parameshwara referred to these findings while addressing past investigations related to cover-ups carried out by the BJP. However, local police in Bengaluru have denied any local connection with these transactions.
The ITS’ current focus includes not only analyzing the charge sheet, but also the allegations that have emerged from the scrutiny initiated by Congress, which point to systemic corruption involving high-level individuals and crypto transactions. The results of this investigation could have important consequences for all parties involved.
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