10 Indian Cops Suspected of $1.3M Worth BTC Extorting

According to the investigation, the suspects illegally detained the local businessman and extorted from him more than 200 BTC
10 April 2018   152

The Investigative Department of the Indian state of Gujarat charged the abduction, extortion and corruption activities of ten police officers. According to the investigation, the suspects illegally detained the local businessman and extorted more than 200 bitcoins from him, reports the Times of India.

Among the suspects are nine constables, a local police inspector and a civilian "mediator." They are accused of kidnapping local residents of Shailes Bhatta, Kirita Paladia and a driver Mahipal. It is alleged that the police abducted them, drove them to the farm and beat them, demanding the transfer of more than 200 bitcoins - about $ 1.3 million at the current rate.

It is also notes that businessman Bhatt was forced to pay another third party to get his bitcoins back. At the same time, Chief of Police Ashish Bhatia noted that during the initial investigation there has not yet been found a fact of the transfer of 200 BTC - now law enforcement officers are studying the history of transactions.

The FIR has been filed on the basis of evidence found by the team so far. In his application, Shailesh Bhatt had mentioned the transfer of 200 Bitcoins worth Rs 12 crore from the digital wallet of his business partner, Kirit Paladiya,” Bhatia said. “Another Rs 32 crore were allegedly paid for their release from a farmhouse. Later, Rs 78.5 lakh were allegedly paid to get the Bitcoins back. All these transactions mentioned in the application could not be proven.
 

Ashish Bhatia

Chief, Gujarat Police

Currently, three of the suspected constables have been detained, six are still wanted.

Australia joins the crypto-discussions arena with Bitcoin & Blockchain Fair

The inaugural Bitcoin and Blockchain Fair will be presented at the Sydney Showgrounds on May 12-13 with an all-round program about cryptocurrency and blockchain
21 April 2018   24

A high profile event in cryptocurrency and blockchain is coming to Sydney, Australia on May 12-13 – Bitcoin and Blockchain Fair. The conference will provide a platform to interact and discuss on all areas of the cryptocurrency and blockchain technology sectors (fintech, investment, venture capital, regulation, ICO, etc.), current opportunities and perspectives in the form of a Forum and an Exhibition Showcases.

The Exhibition Showcase that will allow to exhibit showcases and engage with crypto services providers, government and fintech startups. Forum is the bulk of the conference and is comprised of 2-day sessions to allow international speakers and industry leaders of the crypto and blockchain sectors a chance to share their expertise. May 12 is focusing on cryptocurrency and ICO engagement; May 13 wil cover blockchain technology overview, case studies, solutions and future trends.

The fair is organized by ABF Business and Principal Sponsor Coinspot. Exhibitors and Speakers include attendees from Asia, Europe and USA together with key Australian high profile crypto & blockchain enterprises. The full agenda of the event can be found here.