SIT finds accused was forced to transfer bitcoins

Bengaluru, NT Bureau: The Special Investigation Team (SIT) probing the bitcoin scam that allegedly involved a hacker Srikrishna Ramesh, have reportedly received inputs about the accused being forced to transfer around 150 bitcoins to unanimous wallets and accounts.

According to the sources, the transaction took place between 2020 and 2021 when the accused Srikrishna was in police and judicial custody.

During the time of the movement of these bitcoins there was a big rally in the price of bitcoins. Further the SIT has also had some leads on some of the beneficiaries of the scam encashing the proceeds of the swindled bitcoins in local Indian banks.

This is expected to help the police track the money trail from the bitcoins to the banks.