Man held for hacking Unocoin crypto exchange’s site in 2017
In 2017, Unocoin co-founder filed a complaint alleging the unauthorised transfer of crypto valued at over ₹1.14 crore
The Special Investigation Team (SIT) has arrested Srikrishna in connection with the cybercrime involving the hacking of Unocoin cryptocurrency exchange’s website and transfer of cryptocurrencies valued at over ₹1.14 crore.
Additional director general of police (ADGP) Manish Kharbikar confirmed that Srikrishna was arrested on Monday night after substantial evidence surfaced linking him to the cryptocurrency embezzlement.
“Further inquiries will be conducted,” he added.
The incident dates back to 2017 when Harish, a co-founder of Unocoin, filed a complaint with the New Extension police station in Tumakuru, alleging the unauthorised transfer of cryptocurrencies worth over ₹1.14 crore by unidentified hackers. The case was later transferred to the SIT in 2023 by the Karnataka Congress government, which initiated an investigation into suspected irregularities surrounding the bitcoin scam.
Earlier, Srikrishna had faced charges in another case related to ordering illegal substances using Bitcoins acquired by hacking government websites. The Central Crime Branch (CCB) had arrested him on November 17, 2020, for allegedly diverting funds amounting to ₹11.5 crore.
Following this arrest, a case was registered under the Narcotic Drugs and Psychotropic Substances (NDPS) Act and relevant sections of the Indian Penal Code (IPC) at the KG Nagar police station. The controversy, widely known as the Bitcoin case, saw allegations against police officers for allegedly facilitating Srikrishna’s cryptocurrency activities. Consequently, the state government established the SIT to probe these irregularities.
Despite being previously released on bail, he was found as a suspect in the Tumakuru cybercrime case. Srikrishna is facing at least eight cases of cybercrime and narcotics as most of these cases have undergone investigation, with some even reaching the stage of charge sheet filing.
