ED raids on Karnataka MLA N A Haris' sons puts spotlight back on Bitcoin saga

Bengaluru: In November 2020, the Central Crime Branch (CCB) of the Bengaluru police arrested Srikrishna Ramesh alias Sriki and his associate Robin Khandelwal for allegedly buying hydro ganja on the dark web using Bitcoins.

Nearly six years later, the Enforcement Directorate (ED) raided the sons of Congress MLA N A Haris in connection with the infamous Bitcoin case. 

Subsequent interrogations following the initial arrest opened a Pandora’s box and revealed the scale of Sriki’s cyber-heists. 

Between 2015 and 2016, Sriki allegedly breached Bitfinex, a major Hong Kong-based cryptocurrency exchange, siphoning thousands of Bitcoins.

In Karnataka, it was learnt that Sriki exploited a remote code execution vulnerability to steal Rs 11.5 crore from the Karnataka government’s e-procurement portal in 2019. 

Before that, in 2017, Sriki was accused of hacking into Unocoin Technologies Private Limited in Tumakuru, Karnataka.

It is alleged that Sriki had stolen approximately 60 Bitcoins. At the time, they were valued at over Rs 1.1 crore, with their value as of today standing at around Rs 42 crore. 

SIT investigates case 

In 2023, the Siddaramaiah government formed the Special Investigation Team (SIT) to investigate the case. 

On May 7, 2024, Sriki and his associate Robin Khandelwal were re-arrested by the SIT in connection with the 2017 Tumakuru case.

A case under the stringent Karnataka Control of Organised Crime Act (KCOCA) was slapped on him. In July 2024, the duo got bail, while the Karnataka High Court quashed the KCOCA case. 

In February 2025, the SIT had questioned Mohammed Haris Nalapad. He and his brother Omar Farook Nalapad were earlier questioned in June 2024 in the same case.

SIT had also questioned senior IPS officer Sandeep Patil, who was earlier heading the CCB, during Sriki’s arrest. 

Interestingly, Sriki was also present with Mohammed Haris Nalapad, when he attacked Vidvat at Farzi Cafe in Bengaluru in 2018. While Nalapad was arrested, Sriki, who was listed as a suspect in the FIR, absconded. 

In October 2025, SIT filed another chargesheet against Sriki in the PokerBaazi hack case.

While it was alleged that some politicians were also involved, none of the probe agencies has arrested or charged any. 

Case of fence eating crop

While all this was revealed, what raised eyebrows was the CCB’s initial handling of the case, with allegations of severe procedural violations leading to FIRs against several policemen.

It is alleged that Sriki was made to transfer several of the stolen Bitcoins to other beneficiaries.  

Following the arrest, the CCB, in January 2021, claimed that it had recovered 31 Bitcoins worth Rs 9 crore from Sriki.

The seized Bitcoins later “disappeared”, and the police issued another statement claiming that the hacker had hoodwinked them. 

SIT alleged that Sridhar K Pujar (suspended DySP, earlier Inspector in CCB); Prashanth Babu D M (ex-inspector, Technical Support Centre, CCB); Chandradhar S R (ex-Inspector, CCB); and Lakshmikanthaiah (ex-Inspector, CCB) were instrumental in systematically violating legal procedure. 

Among other things, Sriki was allegedly kept in illegal confinement, taken to a private company without the court’s permission, forced to hack some websites, destroy evidence and was allowed to “liberally” use a private laptop. 

A senior officer, who was part of the SIT, told DH that the initial handling of the evidence and other factors would make it difficult for the case to reach its logical conclusion. 

“There are no significant recoveries of stolen cryptocurrency due to the complex laundering. The digital assets sort of remain in digital limbo. Also, initial mishandling of key digital evidence, leading to the break in the chain of custody, has led to them being inadmissible,” the officer said. 

Key players (accused)

Srikrishna alias Sriki (hacker)  Robin Khandelwal (crypto trader/accountant)  Sunish Hegde (associate)  Sridhar K Pujar (Suspended DySP, earlier Inspector in CCB) Prashanth Babu DM (Ex-Inspector, Technical Support Centre, CCB) Chandradhar SR (Ex-Inspector, CCB) Lakshmikanthaiah (Ex-Inspector, CCB)

Probe status

*Nine cases registered

*Chargesheets filed in six 

*Chargesheet in one case pending higher officers’ verification

*Awaiting prosecution sanction in two cases