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The Narcotics Control Bureau (NCB) has arrested a man who allegedly used to provide bitcoin to hawkers to buy drugs on the darknet, NCB reported on Wednesday.
The accused has been identified as Makarand Pardeep Adivirkar, known as the “Crypto King”.
“In November 2020, a team from NCB Mumbai seized 20 blots of LSD in Kharodi village in Malad. The seized psychotropic substance was purchased in Europe using Bitcoin by a drug dealer in Mumbai,” NCB said.
During the investigation, police arrested Adivirkar were involved in the supply of bitcoin to make the purchase of LSD in November 2020 abroad.
According to NCB, the seized drugs were purchased on the Darknet using bitcoin. Adivirkar provided bitcoins to drug traffickers in various parts of Mumbai.
“His modus operandi was to receive cash and provide bitcoin on fringe profits using his wallet which was used to buy drugs on the Darknet,” NCB added.
The NCB said that sellers of narcotics and psychotropic substances in some countries are using bitcoin for illicit drug trafficking around the world, especially LSD, ecstasy, heroin, hydroponic weeds, buds , among other drugs.
A cryptocurrency is a digital or virtual currency secured by cryptography, which makes counterfeiting or double spending almost impossible. It is a digital currency, with no central bank or single administrator, which can be sent from user to user over the peer-to-peer bitcoin network without the need for intermediaries.
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