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Ex IPS and Cyber Expert Held for Crypto Scam in Pune

The former IPS and cyber expert were involved in the investigation of the Gainbitcoin crypto scam.

Cryptos worth INR 6 crores were recovered from the e-wallet of former IPS officer Ravindra Patil during investigations by Pune Police.

Police traced the money while questioning another arrested accused cyber expert Pankaj Ghode, reported Times of India.

Deputy commissioner of police (cyber) Bhagyashri Navatake told TOI, “While investigating the case, we identified the e-wallets of Patil. Many cryptocurrencies were stashed in them. After identifying the different cryptocurrencies in his e-wallets, we transferred some cryptocurrencies, worth Rs6 crore, to the e-wallet of the Pune police.”

Earlier this month it was found that the duo was involved in the investigation of the multimillion dollar crypto scam of Gainbitcoin. During investigations, they began siphoning off the money.

They had allegedly embezzled INR 20 crores which were recovered.

Now INR 6 crores more were recovered.

So, Ghode and Patil were arrested for cheating “investigators” of the cryptocurrency frauds in the city. Recently, a city court revoked the provisions of the Maharashtra Protection of Interest of Depositors Act (MPID) invoked against them by the police.

Patil and Ghode will remain in police custody till March 25.

The duo transferred the cryptocurrencies, recovered from the Gainbitcoin scam accused in Dattawadi and Nigdi police station cases, to their e-wallets. They then manipulated the screenshots of those transactions and gave them to the police as proof.

Analysis of blockchain revealed that while transferring the contraband to the police’s wallet, the duo diverted some of the assets to their wallet.

Navatake added, “We may recover more cryptocurrencies. We have established the blockchain evidence in the case, and the seizures were made thereafter.”

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