FBI Nabs Blockparty CTO Rikesh Thapa for Stealing BTC Worth $1 Million, Defrauding Employer

Thapa has been accused for having stolen a million dollars, out of which, $162,216 (roughly Rs. 1.33 crore) were wrapped as 10 Bitcoins.

Written by Radhika Parashar, Edited by David Delima | Updated: 8 December 2022 18:04 IST

FBI Nabs Blockparty CTO Rikesh Thapa for Stealing BTC Worth $1 Million, Defrauding Employer

Photo Credit: Unsplash/ Bermix Studio

Rikesh Thapa was working as the chief technical officer (CTO) at a Blockparty tech startup

Highlights

Rikesh Thapa was arrested from Southern California
He now awaits a court trial in the US
Rikesh Thapa could face up to 20 years in prison

The FBI announced on Wednesday that it had arrested 28-year-old Rikesh Thapa for stealing funds, in the form of Bitcoin from his employer. Thapa, who worked at a blockchain firm that was experimenting with cryptocurrencies in order to diversify its portfolio, had offered to save some company funds in his personal account, but later refused to return the money. US Department of Justice (DoJ) has released an official statement after nabbing Thapa from the Southern District of California.

Thapa has been accused of stealing over a million dollars, out of which, $162,216 (roughly Rs. 1.33 crore) were wrapped as 10 Bitcoins. He had been working as the chief technical officer (CTO) at a tech startup named Blockparty.

“As we allege today, the defendant repeatedly stole from and defrauded the victim company - which he cofounded - in order to fund a luxurious personal lifestyle. In an attempt to hide his crimes, he also deleted and falsified records,” FBI Assistant Director in Charge Michael J. Driscoll said in the DoJ's official statement.

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The stolen amount was allegedly used by the accused for traveling, clubbing, and purchasing luxury goods, according to the DoJ statement.

Thapa was able to steal BTC because the company that he was working for, was experimenting with cryptocurrencies as a means of diversifying its financial portfolio.

“In August 2018, Thapa diverted at least one of the victim company's Bitcoin for his own benefit, selling the Bitcoin for approximately $6,500 (roughly Rs. 5.35 lakh) and depositing the proceeds into his account,” the statement noted.

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As per the DoJ, Thapa also wrongfully acquired the company's own utility tokens, but total number of the tokens remains undisclosed.

Thapa has been charged with one count of wire fraud, which carries a maximum sentence of 20 years in prison.

“The defendant is presumed innocent unless and until proven guilty,” the DoJ added.

The US authorities have reiterated that it is closely monitoring the crypto space and is taking quick action to resolve grievances being reported from the members of the community.

Back in June, the FBI had issued a warning for LinkedIn users from falling prey to crypto scammers out and about for victim hunt.

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Further reading: Cryptocurrency, FBI, BTC, Bitcoin

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More