According to the newspaper Times of India Wednesday, October 24, the police of the city of Bangalore in Karnataka was arrested the second founder of Unocoin Sathvik Visvanatha. According to the newspaper, investigators seized his cellphone and laptop. Vishwanath was brought to court in Tanakura, which decided to keep him in detention for a week.

The arrest occurred shortly after the arrest, another founder of the exchange, haritha B V, which occurred on October 23.

The reason for the arrest was their alleged involvement Visvanatha in a “fraudulent scheme” refers to the installation in the shopping Mall Bangalore cryptomate.

A police spokesman, commenting on the arrest of Unocoin founders, said that cryptocurrency transactions, according to Reserve Bank of India, in the country illegally. I agree with him, the local authorities who consider the work of cryptomate illegal.

The police suspect that the executives destroyed the “evidence of crime” in the form of transaction records and customer data. Presumably, these data were contained in the seized computers.

The company Unocoin Technologies installed India’s first cryptomath in the Mall Kempfort Mall in Bangalore in early October. It gave users the opportunity to buy Fiat currency with bitcoin, XRP ether. Simultaneously with the arrest of haritha BV October 23, the car was confiscated.

According Coinatmradar, the number of cryptocurrency ATMs across the planet reaches 3918.

The co-founders of the company Unocoin Technologies Sathvik Vishwanath (left) and Harish BV