The Special Investigation Team (SIT) probing the bitcoin scam is close to identifying a money trail that may finally establish that bitcoins were indeed forcefully stolen, diverted into wallets and encashed. If the SIT is successful in this, it would for the first time provide clinching evidence of a “scam” in the case.
Investigation of several officials posted with the Parappana Agrahara prison where hacker Srikrishna Ramesh alias Sriki was lodged in and Central Crime Branch and other source-based information, has reportedly given SIT officials leads that bitcoins, so “diverted” from Sriki, may have been encashed in local Indian banks, through a web of transactions.
Till now, it was believed that if the bitcoins were indeed diverted and encashed they would have happened overseas, making tracking down these transactions difficult. However, establishing a money trail from bitcoins to individuals may be easier if they were cashed here, sources said.
