The Narcotics Control Bureau of India (NCB) has arrested a Mumbai resident who used Bitcoin to purchase narcotics on the dark web. The accused, named Makrand Adhivarkar, also known as the ‘crypto king’, according to Money Control.
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In November 2020, law enforcement seized 20 LSD blotter tabs purchased with cryptocurrency from a Mumbai drug dealer in Europe, an NCB spokesperson said.
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The accused provided digital assets to acquire illegal substances in exchange for cash, with a small margin.
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‘His actions consisted of taking cash and providing bitcoins to profit, using his wallet to purchase drugs on the dark web,’ the agency said.
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Earlier reports said the Indian government will revisit the bill, which proposed a ban on cryptocurrencies in the country.