Bitcoin Forum

Cryptocurrencies have become a big no-no in India and recently one of the leading newspaper India Today disclosed that the Central Bureau of Investigation or CBI has filed a case against one of its officers. The CBI officer, Sunil Nair tried to extort around $700,000 (almost 50 million Indian rupees) from a Gujarat based businessman for his involvement with Bitcoin.

Source: TheCoinRepublic (https://www.thecoinrepublic.com/bitcoin-becomes-a-black-money-source-in-india-as-a-cbi-officer-blackmails-bitcoin-businessman-for-700000/)

Jesus Christ. A bit of an off-topic start, but who would try that scam for 700,000? It's way too high a number to just pay and move in with your life, no wonder the CBI got involved here, dumb move from the police.

This isn't one of the issues with banning a currency in your country, it's not even bitcoin news - just shows how corrupt some people are and it's more an embarrassment for Indian's police force.

I still don't understand why shit like this gets published, is it even news?

This has nothing to do with crypto currency or bitcoin but rather it show the corruption rate of the particular region and corrupt mind of the officer involved in this and I am sure this will not have any affect on users involved in bitcoin. You can possibly move this post to some off topic threads.

This is really common and there are certain things one should keep in mind ,
 
  If you are involved in a business you need to be well informed about it , you should understand that one needs not to worry if he is doing everything right .
  We need to see news more often honestly , one should understand that it is not yet banned.
  It is just into examination by the court , understand that no one has the power to actually do anything wrong , even a common man can fight the big governmental personalities.
 

This is really pathetic and very disturbing to all crypto enthusiasts who are probably in this forum and hope to see the arms of the government soften so that they can operate crypto related business in India. I hope all the necessary investigations are done to ensure a fair judgement and also the government should really come out and state its stance with cryptocurrencies clearly so that its citizens would not engage in undercover business.

Same thought staigth away, if it would be like 7 times less, he could get the money, but $700000 in India? :D comeone, wealth diversity in India is huge, but even for rich person $700000 is huge money.
He got what he deserved and Bitcoin got some news coverage on top of that.