In a surprising event, an Indian policeman named Chandradhar was arrested on May 31. He is believed to have taken a lot of Bitcoin (a type of online money) while investigating a Bitcoin scam, says a person named Jimmy Aki.
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- A policeman in India named Chandradhar got caught for taking a lot of Bitcoin (a kind of online money) that wasn’t his while he was looking into a Bitcoin scam.
- Chandradhar’s arrest is part of a bigger investigation into a Bitcoin scam that happened in 2020. Lately, there have been many more Bitcoin scams in India, so the government is watching these matters more closely.
- This recent scam is similar to another one that happened in 2018, the ‘Gain Bitcoin’ scam. It tells people to be extra careful when dealing with Bitcoin.
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Indian Police Official Detained For Misappropriating Over $200K in Bitcoin Amid Cryptocurrency Fraud Probe
A special group of detectives from something called the Central Crime Branch (CCB) arrested Chandradhar. This is the fourth person arrested in a big Bitcoin scam case that’s been going on since 2020. The Hindustan Times, a newspaper, says that Chandradhar might have sneakily gotten into Bitcoin wallets (a kind of online piggy bank for Bitcoin) and taken away a lot of Bitcoin. He is also accused of getting rid of proof related to these actions.
Chandradhar is now in big trouble and may have to face consequences under many parts of the Indian Penal Code (IPC), including for not being trustworthy, causing problems, having a common bad intention, skipping out on doing something he should have done, being involved in crime, and getting rid of proof.
The investigation also involves two other policemen, Prashanth Babu and Lakshmikanthaiah, who were arrested before for similar bad actions. It is believed that the three of them misused their jobs to wrongly obtain and change important information.
There have been many Bitcoin scams in India recently, so the government is watching the country’s growing Bitcoin use more closely. On May 1, India’s main detective agency (CBI) conducted an operation all over the country to stop a fake plan to make money based on an app. The operation happened in 30 places across 10 parts of India, focusing on two private companies and their bosses involved with the HPZ Token App plan.
During the operation, the detectives found clues and things like mobile phones, hard drives, SIM cards, and debit cards. The naughty people are thought to have tricked people into giving them money for the app by promising lots of pocket money from Bitcoin mining (a way to make more Bitcoin). They are still looking into this.
This reminds us of a similar situation in 2018, the ‘Gain Bitcoin’ scheme, where a businessman named Amit Bhardwaj tricked a lot of people and got a lot of money. In April 2024, the Indian authorities took a lot of money from a well-known British-Indian businessman who had received 285 bitcoins from Bhardwaj.
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