India Grabs $ 1.2 Million Bitcoins From Hacker Website and Crypto Exchanges – Bitcoin News Regulation

Indian police have seized $ 1.2 million in bitcoin from a hacker who allegedly hacked a government website, online gaming portals, and cryptocurrency exchanges. He was previously arrested for stealing $ 1.5 million from the Indian provincial government.

Indian Police Seize Bitcoins From Hacker

The Bengaluru Central Crime Branch (AGM) Police have revealed that bitcoins worth Rs 9 crore ($ 1.23 million) have been seized from a 25-year-old hacker, local media reported on Friday.

The hacker named Shri Krishna is a software engineer and lives in Jayanagar in south Bengaluru. He was arrested on November 18 for finding drugs through the dark using bitcoins. Sandeep Patil, Joint Commissioner of Bengaluru Police (Crime) explained during the investigation:

We have recovered 31 bitcoins from Krishna, worth Rs 9 crore.

Apart from buying drugs, Patil said the hacker and his friends “also used these bitcoins to live luxurious lives” and “stayed in star hotels and resorts.”

Krishna also hacked the e-procurement portal of the Karnataka government in August 2019 and booked it for stealing Rs 11 crore from the site.

In addition, a senior official detailed that Krishna used ransomware to compel the owners of the websites he hacked to pay ransom. “He also used to create mirror sites and get credit or debit card information used by people who accessed websites to steal money,” said the official. The Indian Express described that according to police:

Further investigation has revealed that Krishna, along with five friends, has hacked into three bitcoin exchanges and ten poker websites by pushing three types of malware into them.

Police added that they “also hacked into YFI (Yearn Finance) coin Ethereum sites in various countries using similar modus operandi.”

Patil noted that the accused had hacked into various international poker sites and stole data, adding that his team had shared all relevant information about the case with the companies involved through Interpol.

After hacking websites and stealing data and money, the accused converted funds into bitcoin and exchanged out through an alleged financing partner, Patil described. He added: “The bitcoins were traded for money through another accused, identified as Robin Khandelwal. He deposited the money in Krishna’s bank account after trading the bitcoins through hawala channels. ”

What do you think about India stealing bitcoins from the hacker? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, nor a recommendation or endorsement of any products, services or companies. does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.