ED files chargesheet against hacker Sriki and four others in Bengaluru crypto probe

The Enforcement Directorate (ED) on Monday filed a prosecution complaint in Bengaluru against hacker Srikrishna Ramesh, alias Sriki, and four others in connection with the laundering of funds stolen from cryptocurrency exchanges and gaming websites.

The complaint, which serves as a police chargesheet, was filed by ED public prosecutor Madhu N Rao before the completion of 60 days of the suspects' custody. Besides Ramesh, the accused include his accountant Robin Khandelwal, associate Sunish Hegde, Bengaluru IT firm Infinzy Solutions, and two of its officials who allegedly facilitated the transfer of stolen funds.

Ramesh, Khandelwal, and Hegde were arrested by the ED on May 8. Prior to these arrests, the agency conducted searches at 12 premises linked to the hacker and his associates, including properties linked to Mohammed Haris Nalapad and Omar Farook Nalapad, the sons of Congress MLA and Bengaluru Development Authority Chairman N A Haris.

The ED's investigation revealed that Ramesh hacked multiple platforms, including the Unocoin cryptocurrency exchange, the Karnataka Government's e-procurement tender platform—where Rs 11.5 crore was stolen between 2017 and 2020—and poker websites such as Poker Dangal, Spartan Poker, Poker Saint, GG Poker, and Poker Baazi.

According to court findings, the stolen virtual digital assets were liquidated through Khandelwal to convert them into fiat currency. The proceeds were then layered through multiple bank accounts and cryptocurrency platforms before being used by the accused, including Hegde, for personal expenses and other criminal activities. Hegde's bail plea was rejected by a court on June 25.

The ED based its complaint on statements recorded under the Prevention of Money Laundering Act, alongside digital evidence, bank records, and blockchain analysis reports. The agency stated that further investigations are ongoing to trace the exact movement and utilization of the stolen funds.