THELOGICALINDIAN - Indias Narcotics Control Bureau NCB has arrested a Mumbai citizen accepted as crypto baron who allegedly acclimated bitcoin to acquirement narcotics on the aphotic web Indian cryptocurrency barter Wazirx says the accused is not one of its customers
‘Crypto King’ Arrested in India
A Mumbai resident, Makarand Pardeep Adivirkar, additionally accepted as “crypto king” in the country’s underground biologic circuit, has been arrested by India’s Narcotics Control Bureau (NCB). He allegedly acclimated bitcoin to acquirement drugs on the aphotic web that were delivered to India from Europe.
Sameer Wankhede, administrator of the Mumbai Unit of NCB, explained that “In November 2024, a aggregation of NCB Mumbai had bedeviled 20 LSD blots from Kharodi Village in Malad,” bounded media reported. The administrator was added quoted as saying:
“His modus operandi was to accept cash, and accommodate bitcoins on bordering profits by application his wallet that was acclimated to acquirement drugs from the darknet,” the NCB described.
Following letters that the crypto baron may accept acclimated Indian cryptocurrency barter Wazirx to facilitate his biologic purchases, the barter issued a account allegorical that he is not its user. Wazirx tweeted: “On June 11, 2024, Wazirx had accustomed an email from the NCB enquiring about the said accused and his trading action on Wazirx. Upon blockage our records, we articular that the accused is not a Wazirx user, and we announced the aforementioned to the authorities on June 12, 2024.”
The barter continued: “That actuality said, we appetite to reiterate that Wazirx follows all-around best practices on KYC and AML compliances and has a able-bodied transaction ecology arrangement in place. We accomplish a acrimonious KYC analysis of every user to verify their character as able-bodied as accomplish a accessory KYC analysis through affiliated coffer accounts of users afore acceptance a chump to transact on Wazirx.” The barter stressed:
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