Amid the ensuing market turmoil, the Reserve Bank of India announced measures that virtually banned crypto transactions. Cryptocurrency exchanges responded with a lawsuit that is due to resume hearings in the Supreme Court in September.
Sources said Sanchit and Rajesh were officials with a private company, in which some of the victims of the Bitcoin scam invested money through mastermind Amit Bhardwaj, CEO and founder of Gain Bitcoin, G B Minors and G B 21 firms.
In order to cover up his alleged role in kidnapping and Bitcoin extortion, suspended superintendent of police Jagdish Patel went to the village of the victim’s friend to strike a compromise.
The chargesheet states that the accused police inspector “created a false case” against Surat-based “businessman” Shailesh Bhatt soon after learning that the latter had moved a complaint with home department on February 23.
The affidavit stated that investigators have collected “digital evidence” of transfer of these crypto currencies and “it has been established beyond any doubt”.
Pune police, in whose custody the accused were, handed them over to ED.
The Bureau of International Settlements (BIS) has published a report, that says that the increased trend of cryptocurrency mining, that includes Bitcoin, could severely affect the internet.
Questions swirled this week about whether the world’s biggest cryptocurrency was manipulated during last year’s record price surge.
After Coinrail announced the theft, the price of bitcoin dropped to $6,333.95 per bitcoin. It is down $1,374.10 in the last week, according to Coinbase. At 3:30 pm, bitcoin was quoted at $6,306.95.
Raj Kundra arrived at the ED’s Mumbai office around 11.40 am and was questioned for more than eight hours.
The Enforcement Directorate on Tuesday questioned Shilpa Shetty’s husband and businessman Raj Kundra in connection with the Gain Bitcoin case where more than 8,000 people were duped to the tune of Rs 2,000 crores from across the country.
The hype surrounding last year’s hottest asset class, Bitcoin has faded in 2018, with fewer online searches and more pressure for regulators.
Ali had met the accused — brothers Dev Kant, Ravi Kant and Arun Kant — at the Vasant Vihar branch of a private bank. “They claimed to be Bitcoin businessmen and told me about cryptocurrency,” he said.
Surat-based builder had extorted Bitcoins, cash worth Rs 155 crore, says CID.
The company, which claims to provide an online crypto-currency digital wallet service for Bitcoin and Money trade coin — both virtual currencies — has contended that the RBI has not spelt out any reasons for imposing the restrictions.