An Indian police officer has been apprehended for misappropriating INR 1.8 crores (approximately $216,000) in Bitcoin connected to a cryptocurrency scam investigation.
Chandrahar SR, a former inspector with the Central Crime Branch (CCB), reportedly accessed the Bitcoin wallet of hacker Srikrishna Ramesh, which was part of an ongoing probe. The crypto scam in question dates back to 2017 and involved hacking cryptocurrency exchanges, including Bitfinex and Unocoin, resulting in illicit gains of approximately INR 5.5 crore ($660,000).
Ramesh, along with his associate Robin Khandelwal, attempted to launder the stolen funds through Bitcoin but was apprehended in 2020. Initially, the Crime Branch reported the Bitcoins as unrecoverable, blaming Ramesh for manipulating the “Bitcoin core application” to mislead the investigation.
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First found on: Crypto news from Coinatory
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