Bengaluru, May 8 (PTI) Hacker Srikrishna alias Sriki was arrested by the Tumakuru police after his role was found in stealing 62 bitcoins worth Rs 32 crore, Karnataka Home Minister Dr G Parameshwara said.

Parameshwara said Rs 32 crore worth bitcoin transactions happened in Tumakuru.

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"To investigate it, he (Srikrishna alias Sriki) has been taken there and his role is now confirmed and hence he was arrested," the Home Minister said about Sriki, who was arrested on Monday night.

"The transanctions pertained to 62 coins worth Rs 32 crore. All these things happened in the past and accordingly he was arrested. He is the only one arrested so far," he clarified.

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The Minister explained that a separate SIT has been formed to probe the Bitcoin scam and the investigation is going on at a fast pace.

"This is a very serious development. The Centre is also investigating another Bitcoin scam, which is not related to our state," he said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)