In a chilling case of betrayal, Shilpa Jaiswal, an advertising professional, fell victim to a crypto theft scheme orchestrated by her close friend, Mokshi, and two accomplices, Sherry Sharma and Ashish Sharma. The three were arrested after Jaiswal reported that six bitcoins worth around Rs2.6 crore had been stolen from her cryptocurrency wallet during a trip abroad.
According to Jaiswal’s complaint, her Trust Wallet, which she managed on her smartphone, contained six bitcoins. She discovered that her entire crypto balance had disappeared while she was traveling abroad. The fraud was meticulously executed by the accused, who used multiple small transactions and employed tumblers and mixers to launder the stolen bitcoins and evade detection.
The police investigation revealed that the accused knew Jaiswal would be traveling for a seven to eight-hour flight. During this time, Jaiswal’s phone was in flight mode, making it an ideal opportunity for the theft. Mokshi, aware of the crypto wallet’s existence, devised a plan to steal the bitcoins.
On the way to the airport, Mokshi asked Jaiswal for her phone under the pretext of checking the navigation. Seizing the opportunity, Mokshi transferred the entire crypto balance from Jaiswal’s wallet to several other wallets controlled by the trio. To cover their tracks, the stolen bitcoins were moved through tumblers—tools designed to mix identifiable cryptocurrencies with others to obscure their origin.
Once the transfer was complete, the accused encashed some of the stolen crypto at different locations, turning the bitcoins into cash. The police were able to track the transactions and recover Rs1.2 crore in cash and 2.3 bitcoins from the trio.
The mastermind behind the theft, Mokshi, was arrested on July 19. She was a close friend of Jaiswal and had knowledge of her cryptocurrency holdings. During interrogation, Mokshi revealed the involvement of her associates, Sherry Sharma and Ashish Sharma, who were also arrested.
A case has been registered against the three accused under several sections of the Indian Penal Code (IPC), including theft (Section 303(2)), criminal conspiracy (Section 61(2)), and concealment of property (Section 323). They also face charges under the IT Act, specifically Section 66 for crimes related to computer systems and data.
Following the investigation, the police recovered Rs2.6 crore, including Rs1.2 crore in cash and 2.3 bitcoins, from the three accused. The police have emphasized the growing threat of crypto thefts, especially with the rise of digital currencies and the sophisticated methods used by cybercriminals to exploit their victims.