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Karnataka: Why Siddaramaiah wants protection for accused Bitcoin hackers

Karnataka: Why Siddaramaiah wants protection for accused Bitcoin hackers

Published on
11/17/2021, 11:21 am
3 minutes read

Siddaramaiah said that “there are a lot of powerful people involved” in the Bitcoin scam.

Karnataka Congress opposition leader Siddaramaiah on Monday urged Prime Minister Basavaraj Bommai, Sri Krishna or SriKi, the prime defendant in a Rs. 46 crore bitcoin fraud.

The former CM said the safety of Sri Krishna is important as the case “has received global attention and it is believed that many powerful people are involved”.

Why is this story important?

The year-long case of a high-profile hacker has sparked a political storm in Karnataka.

The corruption allegation came after the reported “disappearance” of 31 bitcoins that the police had allegedly recovered from the hacker.

Meanwhile, the opposition congress in Karnataka criticizes the ruling BJP government for alleged fraud.

Siddaramaiah questions the behavior of the police

Siddaramaiah questions the behavior of the police

Siddaramaiah tweeted, “The dramatic arrest of Sri Krishna on minor charges and the similarly dramatic bail release after the Bitcoin fraud came to light, and the subsequent police conduct, arouses suspicion.”

He went on to say that Sri Krishna’s life could be threatened as bitcoin fraud is a technology-driven crime and all “information, including passwords, is in Sriki’s mind.”

Siddaramaiah also questioned SriKi’s “drug addiction”

Siddaramaiah asked the government and law enforcement agencies several questions about the defendant’s suspected drug addiction.

“Is SriKi still a drug addict? If so, was the medical test done when the police arrested him?”

“If the medical test confirmed that he was addicted, was appropriate treatment given? The CM and the Home Secretary should give this information,” he continued.

Congress accuses BJP of hand

Congress accuses BJP of hand

Congress has asked the BJP-led government about the “disappearance” of 31 bitcoins worth Rs. 9 million.

The Bitcoins were confiscated from the accused by the Bengalurian police in January.

Citing court documents, the head of the Karnataka Congress, DK Shivakumar, asked, “The CCB (Bengaluru Central Crime Branch) claims to have seized 31 bitcoins, so where are these now? The government has to answer these questions. ”

CM rejects the allegations made by Congress

CM rejects the allegations made by Congress

Karnataka CM Bommai has denied the corruption allegations made by Congress.

He claimed no one from the state’s BJP government was involved in bitcoin deals with Sri Krishna.

Instead, he asked Congress to produce evidence of corruption.

Separately, the state’s interior minister, Araga Jnanendra, claimed that Congress was “creating unnecessary confusion” over the alleged Bitcoin fraud.

What is the Bitcoin Controversy?

What is the Bitcoin Controversy?

In November 2020, CCB arrested the 26-year-old Sri Krishna for getting drugs with Bitcoins.

However, further investigation revealed that he was also a hacker and was involved in ransomware attacks. Bitcoin exchange hacking and money laundering.

During the interrogation, CCB reportedly seized 31 bitcoins from the defendant.

The controversy was sparked after the recovery claim was later withdrawn.

SriKi claims to have stolen 5,000 bitcoins

SriKi claims to have stolen 5,000 bitcoins

In his testimony to the police, the defendant alleged to have stolen over 5,000 bitcoins by hacking various Bitcoin exchanges.

Meanwhile, the Karnataka Police Department has also filed six cases of hacking and Internet connection against him.

These include stealing Rs. 11.5 crore from the Karnataka government’s e-procurement cell in 2019; a ransomware attack on the Department of Urban Land Transport in 2020, etc.

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