Crypto Scam and Investments Duped Over $242 Million In Australia
Since the cryptocurrency grew in the last few years, it also has become the favorite place for fraudsters and cybercriminals to loot money. Per the latest estimates, Australia records significant losses indicating crypto scams are on the rise in the state. According to the stats viewed by the Australian Competition and Consumer Commission (ACCC), Australia […]
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A class-action lawsuit has reportedly been filed against a cryptocurrency scam that has duped many Indian investors. The scam, promoted in three Indian languages, lures investors by promising up to 900% return on investments. The Delhi court has directed a notice to be placed in major newspapers, seeking victims of this scam to come forward. Class-Action Lawsuit to Stop a Crypto Scam in India A representative lawsuit has reportedly been filed in order to stop a cryptocurrency scam from continuing to dupe Indian investors. The Delhi court last week directed a notice to be published in....
The United States Department of Justice (DOJ) says it has seized cryptocurrencies worth $24 million after receiving an official request from the government of Brazil. The seizure stems from an ongoing investigation into the $200 million cryptocurrency scam that may have defrauded tens of thousands of Brazilians. The authorities in Brazil say the scammers duped people by typically promising exaggerated returns and falsifying where the funds were invested. Criminal violations In a statement, the DOJ says the U.S. acceded to Brazil’s request in line with the cooperation treaty signed....
An alleged mastermind of a cryptocurrency scam has been arrested in India after he fled the country to Dubai. Investors were duped into investing in a cryptocurrency linked to a crypto exchange he established. The scheme also promised investors a monthly return of 20%-30% on investments. Alleged Kingpin of Crypto Scam Arrested An alleged mastermind of a cryptocurrency scam, Umesh Verma, was arrested at the Indira Gandhi International Airport on Thursday as he arrived from Dubai. Local media reported that he was arrested “on charges of duping at least 45 people to the tune of Rs 2.5....
Indian Enforcement Directorate has seized assets worth approximately $5 million in connection with an alleged cryptocurrency scam involving Morris coin that has duped investors out of $162 million. The crime proceeds were used to buy cryptocurrencies.
India Authorities Seize Assets in Alleged Crypto Scam Case
India’s Enforcement Directorate (ED), a specialized financial investigation agency under the Department of Revenue, Ministry of Finance, has seized assets valued at 36.72 crore rupees ($5 million) in connection with a cryptocurrency scam.
The ED began....
Indian police have arrested 11 people so far in connection with a fraudulent cryptocurrency scheme that has duped about 2,000 investors out of $5.4 million.
11 People Arrested so Far in Cryptocurrency Scam in India
Indian police have cracked down on a cryptocurrency investment scheme that has duped over 2,000 investors out of 40 crore rupees ($5.4 million).
The number of arrests reached 11, seven of whom were arrested on Sunday in Maharashtra’s Nagpur, according to PTI.
The main accused, Nishid Wasnik, and his wife Pragati, along with two other....