Saturday, January 28, 2023

NCB Arrests Mumbai-Based Crypto King For Buying Drugs Using Bitcoin

Makarand Pardeep Adivirkar, popular as ‘crypto king’ in the Indian drug circuit, has recently been taken into custody by the Narcotics Control Bureau (NCB) unit in Mumbai.

It has been reported that the accused helps the drug dealers in buying drugs from the dark web network. The Mumbai-based IT graduate uses Bitcoin for scoring drugs for the dealers. However, the drug dealers used to pay him in cash always.

Adivirkar also asked the dealers to pay him some extra commission for the efforts he put in scoring drugs for them.

While releasing a public statement, Sameer Wankhede, the Zonal Director of Mumbai NCB unit, said, “The dealer would transfer the amount to a friend’s bank account, and the friend would transfer it to a third person, who would withdraw cash and give it to [Adivirkar]. Then Adivirkar used his Bitcoin wallets to pay drug vendors in Poland and other European countries through the dark web.”

Wankhede claimed that Adivirkar was also involved in the purchase of LSD in November 2020, using Bitcoin. 

Darkweb networks are not easily accessible, therefore, illicit transactions using cryptocurrencies are processed through them. Whenever a drug deal is settled on a dark web the user pays the dealer in cryptocurrency later, the substance is transferred to the user through postal services. 

Cryptocurrencies being a decentralized asset can be transferred from users to users on a specific network without the need of any third party, therefore, it is difficult to trace its transaction. Also, no one could double-spend or counterfeit it. 

Adirvirkar was popular as a ‘crypto king’ because he uses cryptocurrency for facilitating drug deals on the darknet.

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