Bengaluru businessman robbed of ₹2 crore during cash-to-crypto deal in broad daylight

In a dramatic turn of events resembling a crime thriller, a Bengaluru-based businessman was allegedly robbed of ₹2 crore in cash by a gang of knife-wielding men while attempting to convert the money into cryptocurrency. The incident took place in broad daylight at a private office in the city’s Vidyaranyapura area, and police are now not only probing the robbery — but also the origins of the large sum of cash.

The victim, 33-year-old Sriharsha V, runs Aerivon Oxygen Pvt. Ltd in West Bengaluru. According to his police complaint, he had borrowed the cash to purchase a German machine for a planned cold-pressed oil venture. Seeking to convert the money into USDT (Tether) cryptocurrency, Sriharsha said he was directed by associates to a man named Benjamin Harish, who offered to facilitate the transaction.

The deal was set to unfold at the office of A K Enterprises in MS Palya. Sriharsha arrived there on June 25 afternoon accompanied by two associates. At the location, Harish and his aide, Rakshit, began counting the money using a currency-counting machine.

But what was supposed to be a routine financial exchange quickly turned violent.

As per the complaint, a group of six to seven men suddenly stormed into the premises armed with knives. They overpowered the businessman and his associates, seized the ₹2 crore in cash, and also snatched their mobile phones. The attackers locked everyone inside the office before fleeing the scene.

When the group was eventually freed, they discovered that Harish and Rakshit — who were meant to be the money conversion agents — had also vanished.

Vidyaranyapura police have registered a case of dacoity under Section 310(2) of the Bharatiya Nyaya Sanhita and have taken both Harish and Rakshit into custody. Police are also investigating whether the two were complicit in orchestrating the heist.

Crucially, authorities are scrutinizing the origin of the ₹2 crore cash, as Sriharsha’s claim of having borrowed it for business purposes has raised suspicions.

As investigations continue, the case has spotlighted the shadowy intersection of unregulated cryptocurrency transactions and rising cyber-financial crimes in India’s tech capital.