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

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

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 Bitcoin 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.

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