ED files chargesheet against hacker Sriki, others in crypto laundering probe

4 min readBengaluruJul 8, 2026 09:26 AM IST

Srikrishna Ramesh, also known as Sriki, Khandelwal, and Hegde were arrested on May 8 by ED in connection with its probe into the laundering of stolen material from crypto exchanges and gaming sites. (File Photo)

The Enforcement Directorate (ED) Monday filed a prosecution complaint against five people, including hacker Srikrishna Ramesh, and a private firm in connection with the laundering of funds generated by Ramesh through the hacking of multiple cryptocurrency exchanges, poker, and gaming websites.

The ED prosecution complaint, which is the equivalent of a police chargesheet, was filed against Ramesh, alias Sriki, his accountant Robin Khandelwal, a close associate Sunish Hegde, a private Bengaluru IT firm, Infinzy Solutions, and two officials of the firm who allegedly facilitated the transfer of funds stolen from a poker site by the hacker.

Sriki, Khandelwal, and Hegde were arrested on May 8 by ED in connection with its probe into the laundering of stolen material from crypto exchanges and gaming sites. The prosecution complaint was filed by ED through its public prosecutor, Madhu N Rao, before the completion of 60 days of their custody.

Before arresting them, ED conducted searches at 12 premises linked to Sriki, his associates, and the properties of Mohammed Haris Nalapad and Omar Farook Nalapad, sons of a Congress MLA and Bengaluru Development Authority Chairman N A Haris, who have also been the hacker’s associates.

ED’s charges

According to investigation findings placed in court by ED in the course of a bail plea filed by Hegde, which was rejected on June 25, Sriki and his associates were involved in “repeated incidents of hacking, theft of VDAs (Virtual Digital Assets), data theft, extortion, and laundering of proceeds through cryptocurrency exchanges, traders, bank accounts and other financial channels.”

ED has stated that stolen VDAs, like Bitcoin and cryptocurrencies, “were liquidated through crypto traders, particularly Robin Khandelwal, who acted as a conduit for converting illicit digital assets into fiat currency.”

After the hacking crimes committed by Sriki, stolen materials were “layered through multiple bank accounts, cryptocurrency platforms and other channels before being utilised by the accused persons, including the Petitioner, for personal benefit and further criminal activities,” ED has stated.

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ED also stated that Sriki and his associates were involved in the hacking of the Poker Dangal, Spartan Poker, Poker Saint, GG Poker, and Poker Baazi poker websites, as well as the Unocoin cryptocurrency exchange and the Karnataka Government’s e-procurement tender platform, where Rs 11.5 crore was stolen between 2017 and 2020.

The agency has said several FIRs filed against Sriki, involving similar modus operandi, common accused persons, and interconnected transactions, have been incorporated into the money laundering probe against the hacker and his associates.

It has placed reliance on statements recorded under Section 50 of the Prevention of Money Laundering Act, 2002, by the accused regarding their modus operandi as well as “digital evidence, bank account records, cryptocurrency transaction records, blockchain analysis reports and materials recovered during investigation.”

Ongoing investigation

ED has indicated that further investigations are underway into the exact quantum, movement, layering, and utilisation of the proceeds of the hacking crimes.

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Among the hacking crimes which form the basis of the money laundering prosecution complaint filed on Monday against Sriki and others is a 2018 hacking of the Poker Baazi website and a 2017 hacking of the Unocoin cryptocurrency exchange.

ED has stated that Sriki, who hacked the Unocoin exchange, diverted funds through concealment to Hegde and others.

“The stolen Bitcoins (proceeds of crime) were disposed of through various cryptocurrency trading platforms. The sale proceeds were routed and layered through multiple bank accounts and were utilised for the personal expenses of Srikrishna and his associates, namely Omar Farook Nalapad, Mohammed Haris Nalapad, Aqeeb Khan, Sunish Hegde and Sujay Raj,” ED said in its court filings noted by the district court last month.

In May, a Special Investigation Team of the Karnataka Police named Sriki, Khandelwal, the Congress leader Mohammed Haris Nalapad, and their associates Nafi Mohammed Nasar and Vijay L as accused in a chargesheet filed in the Unocoin exchange hacking case of 2017.

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