Give Username, Password Of Bitcoin Wallet To Probe Agency: Court To Accused

The allegation against Ajay Bhardwaj is that he induced investors to invest in Bitcoin through a "multi-level marketing scheme" on false promises.

The Supreme Court Monday asked a cryptocurrency scam accused to disclose the username and password of his Bitcoin wallet to the Enforcement Directorate and cooperate with the investigation in the money laundering case against him.

A bench of Justices D Y Chandrachud and Surya Kant said that subject to Ajay Bhardwaj, accused of running "multi-level marketing scheme" of Bitcoin making full disclosure, his interim protection granted by the court will continue.

The Supreme Court asked the ED to file an updated status report in the case.

The bench noted in its order, "An application for cancellation of bail has been filed by the respondents. Additional Solicitor General Aishwarya Bhati appearing for ED has filed a status report. ED has submitted that the brother of the petitioner has died and Petitioner (Bhardwaj) is in possession of the username and password of crypto wallets which must be disclosed to the investigating officer".