The Special Investigation Team (SIT) of the Criminal Investigation Department (CID), which was constituted to probe the bitcoin scam that unfolded during the previous BJP rule, will source a high-end tool to unearth the trail of bitcoins moved by the accused Srikrishna Ramesh aka Sriki.
A source told The Hindu that the SIT is sourcing the tool specially designed for tracking the movement of cryptocurrencies and if put to use, this will be first of its kind employed for any investigation in the State. The decision was taken to purchase the tool as SIT is grappling to find evidence for transactions of bitcoins. It was alleged that Sriki was forced to move the coins, which he allegedly stole from cryptocurrency exchange Bitfinex, by police officials who were investigating him in a drug case and certain influential personalities in the political circles.
Sriki was arrested by Central Crime Branch (CCB) in 2020 and he was kept inside a quarantine cell. The sources say that he had moved several coins from the cell using a laptop smuggled inside Parappana Agrahara. While SIT is in the know of these transactions, the team wants to find out where these coins have been moved and the networks used for the transactions. The SIT believes that this tool may come in handy in the process of investigation.
