Indian Authorities Bust Crypto Racket, More Than $5M Stolen From Victims
Per a report from The Times of India, an alleged crypto racket organization has been busted in the city of Nagpur. The report claims the organization drained off over Rs40 crore or $5.36 million using a shell company called “Ether Trade Asia”. Related Reading | RBI Governor Calls Crypto A Threat To India’s Macroeconomic Financial […]
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According to the Advertising Standards Council of India (ASCI), specific rules must be applied to advertising all virtual digital assets, including cryptocurrency and NFTs, on or after April 1, 2022. The primary purpose of these rules is to protect customers from misleading ads. Related Readings| Indian Authorities Bust Crypto Racket, More Than $5M Stolen From […]
An international crime syndicate that siphoned money from ATM machines via cloned debit and credit cards was busted by authorities in India. Investigations revealed that the stolen cash was converted to bitcoin before being dispersed to members of the crime syndicate. An international crime racket involving key members in India and the United Arab Emirates was busted by Indian authorities. The criminal activity saw cloned cards stealing money from ATMs in various locations across India, the Times of India reports. Eventually, the stolen money was converted to bitcoin before being....
Ninety-six people have reportedly been arrested in India for allegedly extorting bitcoin from foreigners. They set up illegal call centers, posed as police officers, and told the victims that their bank accounts had been used in illegal transactions. They also threatened to immediately arrest the victims and freeze their assets. Bitcoin Extortionists Arrested in India Delhi police have reportedly arrested 96 people for allegedly extorting bitcoin from foreign nationals through fake call center schemes. According to local media, 54 people were arrested for running a call center in west....
In a recent development from Thailand, authorities uncovered a massive crypto scam targeting local investors, with damages amounting to more than $27 million. In collaboration with international bodies, local enforcement agencies went after a fraudulent investment platform, leading to multiple arrests and property seizures. Decoding The Deceptive Web: A Scheme Unveiled A report from the […]
Three banks and a pharmaceutical company in India have been revealed as targets of a ransomware scheme that saw a ransom demand in bitcoin. In what is now the first known instance of an online extortionist demanding ransom in bitcoins from Indian targets, the Economic Times has revealed that hackers disrupted operations by crippling computers at three banks and a pharma company. Ransomware schemes are notorious for their scale of operations. A recent report revealed that an estimated $325 million has been plundered by ransomware operators in 2015 alone. Cryptowall was reported to be the....