The case pertains to two private cryptocurrency detectives allegedly transferring 1,137 bitcoins while investigating a fraud where they were assisting the Pune police.
The case in which Ghode and Patil were assisting the police relates to a cryptocurrency scam registered in 2018 involving 87,000 bitcoins and at least 8,000 investors.
CryptoPotato reported this case as well, where the key accused, Amit Bhardwaj, was charged by the ED with running a multilevel marketing scheme called GainBitcoin.
According to the First Information Report lodged by the Pune Police, the police engaged Ghode and Patil to recover bitcoins from Amit Bhardwaj’s e-wallet.
But instead of playing fair, they transferred 1,137 bitcoins to their wallets and gave the police fudged screenshots of Bhardwaj’s wallet.
As India doesn’t have a law that covers cryptocurrency frauds, crypto crime cases are dealt with under different legislations depending on the nature of the crime.
The alleged wrong-doer escaped from the country after being granted bail in 2020, following his arrest under lenient sections of the Indian Penal Code.
After being in the mainstream print media for over 10 years, Arun has been active in digital media.