Indian ‘Crypto King’ Arrested In Bitcoin-Linked Drug Bust

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oi-Sneha Kulkarni

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Makarand P Adivirkar, a Mumbai resident, was detained by the Narcotics Control Bureau Mumbai Zone for allegedly enabling the acquisition of medication in Bitcoin. According to NCB Mumbai officers, Adivirkar, often known as “Crypto King,” used to transform one’s money into Bitcoin by taking commissions after which buying LSDs (a hallucinogenic drug) and different substances from the darkish internet.

Indian 'Crypto King' Arrested In Bitcoin-Linked Drug Bust

Bitcoin leverages peer-to-peer know-how to function with out a government or banks, with the community managing transactions and issuing bitcoins collectively. On the darkish internet, bitcoins and different cryptocurrencies are continuously utilised for unlawful actions.

After media stories claimed that Makarand P Adivirkar, popularly referred to as ‘crypto king,’ utilised many bitcoin wallets on platforms like WazirX to deal with funds for a number of drug supplier networks in India, WazirX clarified on Friday that he’s not a consumer of the cryptocurrency alternate.

Following claims that the crypto king utilised Wazirx, an Indian cryptocurrency alternate, to facilitate his drug transactions, the alternate clarified that he’s not a consumer. “On June 11, 2021, Wazirx acquired an electronic mail from the NCB questioning in regards to the acknowledged accused and his buying and selling actions on Wazirx,” Wazirx wrote on Twitter. We found that the accused is just not a Wazirx consumer after verifying our information, and we knowledgeable the police on June 12, 2021.”

Story first revealed: Sunday, June 20, 2021, 9:38 [IST]

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