ED has yet to file a second indictment against Bengaluru hacker Srikrishna in the Crypto case | Bangalore News

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NewsCitiesBangaloreED has yet to file a second indictment against Bengaluru hacker Srikrishna in the Crypto case Sriki’s alleged cyber crimes have sparked a political row in Karnataka. The new state government ordered an SIT investigation, allowing the CCB case to be reopened. SIT began investigating just before ED filed its e-procurement hacking charge sheet this month. In the e-procurement case, the recent ED invoice states that Sriki and his assistants hacked into the portal and transferred Rs 10.5 crore and Rs 1.05 crore to two entities. (File)Listen to this article Your browser does not support the audio element.

The Law Enforcement Directorate (ED) is yet to file a second indictment against Bengaluru-based hacker Srikrishna Ramesh alias Sriki, 29, and his associates in an alleged cryptocurrency hacking and money laundering case.

The ED filed a complaint on July 3 against Sriki and 18 others for laundering Rs 11.55 crore stolen from Karnataka’s online procurement portal in 2019. This was under ECIR/BGZO/04/2020 registered on January 9, 2020, during a state CID investigation.

However, no invoice was submitted in the second ED ECIR/BGZO/1/2021 case registered on January 4, 2021, based on an investigation by Bengaluru CCB into Srikis’ alleged hacking of crypto exchanges and websites.

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Sources said that unlike the e-procurement hack case, no proceeds of crime were seized in the CCB crypto case. Attachment of these funds is required before an ED fee sheet is filed.

There must be seizure of proceeds of crime before an ED indictment is filed, sources said.

CCB Police had taken over the case on Srikrishna’s own admission of being involved in hacking crypto exchanges and online poker sites, but seized no proceeds of crime. The CCB initially reported the seizure of 31 Bitcoins valued at Rs nine crore from the hacker, but it was discovered that he had misled them into possessing cryptocurrency on an exchange.

In the case of e-procurement, the recent ED invoice indicates that Sriki and his assistants hacked into the portal and transferred Rs 10.5 crore and Rs 1.05 crore to two entities. He seized assets worth Rs 1.43 crore related to the theft of Rs 11.5 crore.

The charge sheet details how the hackers laundered stolen funds through hawala routes. But with no seized crypto assets, the second PMLA case met with a roadblock.

Srikis’ alleged cyber crimes have sparked a political row in Karnataka. The new state government ordered an SIT investigation, allowing the CCB case to be reopened. SIT began investigating just before ED filed its e-procurement hacking charge sheet this month.

First published on: 2023-07-24 at 9:43 p.m. IST

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