ED Seizes Devices, Tracks Crypto Wallets in Bengaluru Raids Linked to Sriki and Nalapad Brothers in 2017 Hack Probe
The Enforcement Directorate carried out raids in Bengaluru in a major crypto theft case. The action links to a bitcoin hacking incident from 2017. The case now focuses on money laundering through digital assets.
Officials searched around 12 locations on April 20, 2026. The raids covered properties linked to Mohammed Haris Nalapad and Omar Farook Nalapad. Both are sons of Congress MLA NA Haris. Teams also searched places connected to alleged hacker Srikrishna Ramesh, known as Sriki.
ED Conducts Multi-Location Raids
The ED took action under the Prevention of Money Laundering Act. Officers collected documents, digital devices, and bank records. The aim is to track how stolen bitcoins moved and who received the money.
The case started with a police investigation in 2017. At that time, authorities accused Sriki of hacking several websites. Reports say he stole bitcoins from online platforms, including a Dubai-based exchange. Investigators believe he moved these funds through crypto exchanges and bank accounts.
Focus on Money Trail and Suspects
The ED now suspects that part of this money reached the Nalapad brothers. Officials are checking if they benefited from the stolen crypto. The agency is studying bank transfers and crypto wallet activity to confirm this link.
The probe also includes Mohammed Hakeeb Khan, grandson of former Union minister K Rehman Khan. Officials noticed unusual transactions in his bank accounts. Investigators are checking if these transfers connect to the hacker and the crypto theft case.
Earlier, the Central Crime Branch and the Criminal Investigation Department handled this case. Their reports and chargesheets helped the ED start its money laundering probe. The agency is now expanding the investigation to trace the full money trail.
Political Reaction and Rising Crypto Crimes
The raids created a political reaction in Karnataka. State minister Priyank Kharge raised questions about the timing of the action. He said central agencies often act with political motives. He also mentioned that final clarity will come only after a chargesheet.
At the same time, the case shows how crypto crimes are growing in India. Digital currencies allow quick and hidden transfers. This makes it harder for agencies to track illegal money. Authorities are now focusing more on such cases.
The ED crypto theft case remains under investigation. Officials are working to connect the stolen bitcoins with the accused. The findings may affect future action against bitcoin hacking and money laundering in the country.
