Indian police commissioner issues a public warning against crypto frauds
On behalf of the Hyderabad City Police, Addl. Commissioner Shikha Goel asked Indian citizens to invest in crypto only through reputed and long-established players in this field. Goel highlighted the various methods that are actively being used by fraudsters to dupe investors such as lucrative investment opportunities, illegitimate bank transfers and cryptocurrencies. Acknowledging the growth of Indian crypto users, Goel added:“They [fraudsters] ask you to share your cryptocurrency details. And once you put it in your wallet, then the money is taken away.”After simplifying the elaborate....
Related News
Three companies allegedly running a large-scale cryptocurrency Ponzi scheme are being investigated by Indian police. The scheme promises extraordinary returns to investors. The police have registered a case against the alleged CEO of the companies. Large-Scale Indian Crypto Ponzi Scheme Indian police are reportedly investigating three Bengaluru-based companies over a cryptocurrency investment scheme that has lured investors from all over India. The companies are Long Reach Global, Long Reach Technologies, and Morris Trading Solutions. They are allegedly connected to “a multi-crore....
Indian police have said OneCoin is a “clear Ponzi scheme” as they prepare to charge original figurehead Ruja Ignatova and others. In reports relayed by local news source Indian Express, Tushar Doshi, Deputy Commissioner of Police in Mumbai, said that so far 23 people were arrested in connection with OneCoin operations in India. “In this sort of scheme, investors become the perpetrators as well as victims. It is clear that this is a Ponzi scheme,” he told the publication. Doshi’s comments are the most direct suggestion yet from official sources that OneCoin is a Ponzi scheme, the outfit....
The increasing reports of Bitcoin fraud and scams have forced a Canadian police department to issue a warning. The performance of Bitcoin has been really great for the past few months. The digital currency reached an all-time high recently before recording a sharp decline this weekend. The increased Bitcoin price followed by speculations of further rise has led to an increase in the number of fraudulent investment schemes and scams. The rise in Bitcoin-related frauds has forced the Canadian Police to warn the country’s population. The Durham Regional Police issued the warning following....
Delhi police are reportedly investigating a cryptocurrency exchange and its executives allegedly duping Indian investors after receiving multiple complaints. The complainants further say the company has moved office overseas without returning their investments. Police Investigate Crypto Scam After Multiple Complaints Forty-three people have filed complaints with the Delhi Police regarding a cryptocurrency investment scheme based out of Connaught Place, a financial hub in New Delhi, local news outlet Millennium Post reported this week. The Economic Offences Wing of the Delhi Police....
Indian police have seized $1.2 million in bitcoin from a hacker who allegedly hacked a government website, online game portals, and cryptocurrency exchanges. He was previously arrested for stealing $1.5 million from an Indian state government. Indian Police Seize Bitcoins From Hacker The Bengaluru Central Crime Branch (CCB) Police have revealed that bitcoins worth Rs 9 crore ($1.23 million) have been seized from a 25-year-old hacker, local media reported Friday. The hacker known as Shri Krishna is a software engineer and resident of Jayanagar in south Bengaluru. He was arrested on Nov. 18....