The co-founder of Indian crypto exchange Unocoin has been arrested shortly after setting up an allegedly unregistered Bitcoin (BTC) ATM machine in Bangalore, English-language daily Times of India reports Oct. 24.

The 37-year-old co-founder, Harish BV, was apprehended by police after having reportedly installed the ATM kiosk at Kemp Fort Mall on Old Airport Road, together with fellow Unocoin co-founder Sathvik Viswanath. The latter has not been arrested, as per media reports.

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