The arrested defendant twice hacked the Bitfinex stock exchange

The 26-year-old accused of alleged bitcoin fraud Karnataka informed police that he hacked Bitfinex twice during his stay in the Netherlands.

The alleged hacker was identified as Srikrishna Ramesh alias Sriki.

“Bitfinex was my first major hack on the bitcoin exchange. The exchange was attacked twice and I was the first to succeed. The second was a simple spear-phishing attack that led to two Israeli hackers working for the military gaining access to computers of one of the employees, which gave them access to the AWS cloud account, “Ramesh said in a statement to the police.

Explaining how he had managed to hack the bitcoin exchange, he said: “I took advantage of a data center bug that gave me kernel-based virtual machine (KVM) access to the server. I restarted the server in GRUB mode, reset the root password.” I reset the password of the selection server and sent the money via bitcoins to my bitcoin address. ”

He said he made a profit of around 20008 BTC (bitcoin).

He said, “I didn’t save anything. I spent around.” 1 to An average of 3 million a day on alcohol and hotel bills. The price of bitcoin at the time of this hack was around $ 100 or $ 200, which I shared with my friend Andy from the UK. ”

Ramesh also reported that he broke into the Karnataka government’s e-procurement site in 2019.

“We hacked this site in 2019 and made three separate transfers. Two of the accounts were given to me by Hemanth Mudappa for a total of 18 million in one account and 28 million in the second. Hemanth claimed he collected 2 crore from an entity named Ayub that I don’t know. However, CID claims that Hemanth Mudappa collected 11 million crowns, “he said.

“I initiated the second transfer 28 million sitting in the Himalayas. The transaction was probably returned because the government appears to have learned of the dubious nature of the transaction. I made no profit from it; However, I enjoyed the proceeds of crime by living in 5-star hotels and enjoying a luxurious lifestyle from the proceeds, ”he added.

Meanwhile, former Karnataka chief minister and Congress leader Siddaramaiah has claimed that politicians and officials have been involved in bitcoin fraud in the state. Siddaramaiah also claimed that an attempt had been made to cover up the alleged fraud, but did not mention who the politicians were.

However, the Karnataka government referred the “bitcoin fraud” to the Law Enforcement Directorate (ED) and the Central Investigation Office (CBI) due to the international nature of the transactions.

Above all, these allegations come ahead of side polls scheduled in Karnataka in two constituencies.