Karnataka SIT moves to revoke hacker Sriki’s bail over crypto bribes

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BENGALURU — The Kar­nata­ka Spe­cial Inves­ti­ga­tion Team (SIT) is inten­si­fy­ing its probe into the alleged use of cryp­tocur­ren­cies for bribery by hack­er Srikr­ish­na Ramesh, also known as Sri­ki, while he was in police cus­tody. The inves­ti­ga­tion has unearthed con­nec­tions impli­cat­ing mem­bers of the Bharatiya Jana­ta Par­ty (BJP) and law enforce­ment offi­cers in cor­rup­tion activities.

The SIT, fol­low­ing a deep­er exam­i­na­tion of a chargesheet filed back in 2021, is now seek­ing to can­cel Srik­i’s bail. This deci­sion comes after he admit­ted to brib­ing offi­cials with cryp­tocur­ren­cy dur­ing his deten­tion by the Ben­galu­ru crime branch police. The inquiry is also revis­it­ing inter­views and details from a 2018 case that involved a cryp­to-linked dis­pute and polit­i­cal lineage.

In an ear­li­er devel­op­ment dat­ed April 14, 2021, as Sri­ki was near­ing release from the Ben­galu­ru cen­tral prison, blockchain ana­lysts along­side Whale Alert flagged sus­pi­cious trans­ac­tions. These trans­ac­tions were linked to the infa­mous Bitfinex exchange heist. Home Min­is­ter G Para­mesh­wara ref­er­enced these find­ings while address­ing past inves­ti­ga­tions relat­ed to BJP-led cov­er-ups. How­ev­er, local Ben­galu­ru police have denied any local con­nec­tions to these transactions.

The cur­rent focus of the SIT includes not only the chargesheet analy­sis but also alle­ga­tions that emerged from Con­gress-ini­ti­at­ed scruti­ny which points towards sys­temic cor­rup­tion involv­ing high-pro­file indi­vid­u­als and cryp­to trans­ac­tions. The out­comes of this inves­ti­ga­tion could have sig­nif­i­cant impli­ca­tions for all par­ties involved.

This arti­cle was gen­er­at­ed with the sup­port of AI and reviewed by an edi­tor. For more infor­ma­tion see our T&C.

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