A police officer in India has been arrested for allegedly stealing over $200,000 in Bitcoin during a cryptocurrency scam investigation. The inspector, Chandradhar, is the fourth person to be arrested in connection with the ongoing case which dates back to 2020.

Chandradhar is accused of illegally accessing Bitcoin wallets belonging to the case, stealing cryptocurrency worth INR 1.8 crore (approximately $215,000), and tampering with evidence. The charges against him include criminal breach of trust and destruction of evidence, highlighting the seriousness of his alleged crimes.

This incident exposes a growing problem in India - Bitcoin scams. Regulatory bodies are tightening their grip on the cryptocurrency sector in response to this surge in fraudulent activity. Just last month, the Central Bureau of Investigation conducted a nationwide crackdown on investment schemes that lured victims with promises of high returns from Bitcoin mining.

This situation is reminiscent of the infamous 'Gain Bitcoin' Ponzi scheme of 2018, where Amit Bhardwaj swindled investors out of a staggering INR 2,000 crore (approximately $2.4 billion).