It is reported that Mr Narendra Modi’s twitter account was hacked and a request was placed for contribution to the PM’s fund through Bitcoins.
It is obvious that this is the work of fraudulent hackers who must have been able to get some benefit by way of Bit Coin contributions before the hack was detected and removed.
Naavi has been urging the Government of Mr Modi to ban Bitcoins through a number of articles here but the request has gone unheeded.
It is our firm belief that unless Bitcoin is banned the Government of India’s effort to remove black money is only to be considered as half hearted.
Unfortunately the Supreme Court paved the way for a surge in Bitcoin usage in India by scrapping the RBI notification preventing Banks from dealing with companies engaged in Crypto Coin exchange.
The Finance Ministry has quietly looked the other way and even the RBI has withdrawn to the back ground since the lobby behind the Bitcoins is so powerful that even Mr Modi is hesitant to act.
Now that Bitcoins have been demanded and received in the name of Mr Modi, we can expect the opposition to demand an enquiry on whether this was really a hack or was only stage managed.
It would not be possible for BJP to prove that no body paid in bitcoins because that is the nature of secrecy that sorrounds this “Currency of Criminals”.
We hope that at least now, Mr Modi and Mr Shah would realize the damaging potential of Bitcoins and issue an ordinance to ban Crypto Currencies forthwith.