Bengaluru: The Enforcement Directorate (ED) has uncovered a large-scale financial crime network allegedly operated by city-based businessman Sunish Hegde, involving hacked poker platforms, extortion activities and laundering of illicit funds worth crores of rupees.
Sriki Case Forms Central Backdrop
According to the investigation, Hegde is accused of extracting money from victims linked to hacker Srikrishna alias Sriki and channeling the proceeds of crime through multiple routes including cash, bank transfers and casino chips since 2017. The case has emerged as part of the broader scrutiny into cyber-enabled financial frauds linked to online gambling ecosystems.
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The probe indicates that Sriki hacking case forms the central backdrop of the allegations, where hacked poker websites were allegedly exploited for financial gain and extortion.
Investigators claim that Sriki admitted to hacking several poker platforms, including PokerSaint, and stated that the stolen databases were allegedly used by Hegde to support a poker business that generated nearly ₹6 crore in illicit gains. Sriki also alleged that he hacked Pokerbaazi at Hegde’s request and later used the breach as leverage to approach the platform’s operators under the guise of fixing security vulnerabilities.
Crypto And Casino Chips Under Scanner
As per statements recorded by the agency, Hegde allegedly received around ₹2 crore for facilitating the so-called “fix,” which investigators describe as part of an extortion scheme rather than a legitimate cybersecurity engagement.
The ED further noted that casino chips worth around ₹20 lakh and additional cash payments were allegedly routed to Hegde by stakeholders linked to the poker platform. These chips were reportedly used in offshore gambling operations connected to the ecosystem.
Forensic audit findings, accessed by investigators, also suggest that funds were routed through corporate and gaming-linked entities, including transfers connected to Delta Corp Ltd operations in Goa, which were later traced back to Hegde’s accounts.
During a search operation conducted in April 2026, officials recovered ₹9.25 lakh in cash and a mobile phone from Hegde’s residence. The investigation also revealed the alleged use of Binance wallets and transactions involving over 1 lakh USDT in stablecoins, indicating possible crypto-based laundering.
Digital Evidence Contradicts Claims
Hegde, however, has denied operating any cryptocurrency accounts and claimed he does not hold digital assets. He reportedly stated that he had only invested in a USD-based crypto trading platform called Blofin. Investigators say his statements are inconsistent with the digital evidence recovered during the probe.
The agency has also flagged contradictory explanations provided by Hegde regarding virtual digital asset transactions, stating that no credible source of funds has been established for the crypto activity traced to his accounts.
Officials further allege that proceeds of crime were used for luxury expenses, including hotel bills and other personal expenditures linked to individuals associated with Sriki’s network.
Darknet Drug Angle Widens Probe
The investigation has also expanded into a separate narcotics-linked angle, where Hegde is alleged to have been involved in collecting drug consignments ordered from abroad using darknet channels and virtual currencies.
According to the ED, Hegde and his associates allegedly attempted to collect a parcel containing banned substances from a foreign post office facility in Cottonpet. Investigators claim that small payments were made via UPI and cash to facilitate retrieval of the consignment under fake identities and addresses.
The case highlights what investigators describe as a pattern of cross-border cybercrime, crypto transactions and gambling-related money laundering operations spanning multiple years.
Authorities believe that hacked gaming platforms were allegedly used as a foundation for extortion, which later expanded into broader financial crimes involving digital assets and illegal drug procurement channels.
Further interrogation and forensic analysis are underway as investigators continue to map the full extent of financial flows, digital wallets and associated individuals linked to the network.
