Ex-Indian Lawmaker to be 'Offender' in BTC Extortion Case

The name of Nalin Kotadiya appears in the case of 200 bitcoins which policemen allegedly extorted from businessman
19 June 2018   1126

The court found Nalin Kotadiya, a former member of the Indian Legislative Assembly, implicated in the case of extorting bitcoins worth $ 1.3 million, guilty of evading justice, says SoinDesk.

The city court of Ahmedabad granted the request of the Criminal Investigation Department (CID) to recognize Cotadia as a "fugitive". According to Indian law, an ex-deputy is prohibited from traveling abroad, he can be arrested by any resident of the country, said Indian Express.

This decision was followed after repeated calls by Nalin Kotadiya to the court, which he ignored. Representatives of CID, having a warrant for his arrest, also could not find him at home.

The name of Nalin Kotadiya appears in the case of 200 bitcoins (at that time about $ 1.7 million), which policemen allegedly extorted from businessman Shailes Bhatta in February this year. According to new data, Kotadiya contributed to the abduction of Bhatta.

As noted by CoinDesk, CID already suspected Bhutt and his partner Kirita Paladia of extorting about $ 22 million in cash and bitcoins from a member of BitConnect, a financial pyramid that ceased operations in India in January this year.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   167

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.