Imprisoned Indian Hacker Moves $1.2 Million Bitcoin
Hacker Sriki accused of $1.2M Bitcoin theft from a prison cell; young investors warned of rising crypto scams.
Notorious hacker Srikrishna Ramesh, also known as Sriki, is accused of stealing $1.2 million in Bitcoins from a quarantine cell. According to The Hindu, everything happened in just 22 minutes. Sriki, who had been arrested in 2020, handled this major cryptocurrency transaction from within the cell.
Sriki, an Indian crypto fraudster, transferred $1.2 million in Bitcoin while imprisoned. He was initially arrested for internet drug purchases but was later discovered to be involved in cryptocurrency schemes.
Despite being imprisoned in Bengaluru, Sriki moved $1.2 million in Bitcoin using a laptop smuggled in by a bribed police officer. The laptop was in his cell for approximately 20-22 minutes during the transaction.
According to the Hindu, Sriki may have laundered the money in prison. The Special Investigation Team (SIT) is looking into it and tracking down the wallets that were used.
Crypto scams are increasingly targeting young people, particularly those between the ages of 25 and 34. Lloyds Banking Group cautions that losses from these schemes have increased dramatically. The majority of victims are approached via social media, and payments are frequently made via the website Revolut. Scammers frequently utilize phony investment schemes to dupe customers.
