As an analyst with a background in law enforcement and cybercrime investigations, I find this case particularly troubling. The reported incident of a former police inspector, Chandrahar SR, being accused of siphoning off Bitcoin worth INR 1.8 crores ($216,000) during an ongoing crypto scam investigation is a stark reminder of the potential risks and vulnerabilities within our systems.
A Indian law enforcement officer is currently in custody for allegedly misappropriating around INR 1.8 crores, or equivalently $216,000, of Bitcoin during the course of an ongoing cryptocurrency fraud probe.
According to a recent news article, Chandrahar SR, a previous inspector for the Central Crime Branch (CCB), allegedly breached the encrypted Bitcoin wallet of a suspect under investigation, without authorization.
The crypto scam being investigated dates back to 2017.
As a researcher, I’d rephrase it as follows:
In 2020, Ramesh attempted to cleanse his ill-gotten gains, which he had stolen earlier, through Khandelwal’s help using Bitcoin. However, he was eventually apprehended by the authorities.
As an analyst, I would rephrase it as follows: Initially, the Crime Branch reported that the Bitcoins could not be traced, leading me to investigate further with a Special Investigation Team (SIT). Ramesh was suspected of manipulating “the core Bitcoin application” in order to deceive our investigation.
Chandrahar, previously part of the crime branch team handling the case, is currently under scrutiny for reportedly gaining unauthorized access to a hacker’s Bitcoin wallet and making off with the cryptocurrency. The Special Investigation Team (SIT) claims that Khandelwal, who was in custody at the time, was pressured into transferring the funds by Chandrahar.
Further, the accused destroyed all evidence related to the transactions.
Based on the First Information Report submitted by the Special Investigation Team, Chandradhar and two other officers from the Crime Branch Collaborated with Santosh Kumar, a private cyber professional, to gain entry into the specified digital wallet.
Between December 30, 2020, and January 6, 2021, the suspect gained entry to Kumar’s Bitcoin wallet located in his Bengaluru office.
Chandrahar, Kumar, and their fellow officers have each been accused of involvement in the Bitcoin scam and face charges for illegally detaining individuals, betraying public trust as public servants, and destroying relevant evidence.
Chanrahar had eluded law enforcement officers after being called in for investigation. He was later apprehended by the Special Investigation Team at his home in North Bengaluru.
Two additional policemen, besides Chandrahar, are among those taken into custody for questioning regarding the ongoing Bitcoin scam probe.
Recently, there has been a surge in scam and fraud incidents in India. In response, regulatory bodies have taken steps to strengthen their monitoring of the country’s cryptocurrency market.
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2024-05-31 13:36