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You are looking for five people for a crypto scam that has been running in India since 2017

June 14, 2020

The Indian police have filed a case against five people suspected of being involved in cryptocurrency fraud that has cheated on investors since 2017.

Although they have worked for several years, it is believed that Fraudsters have only taken a modest profit about $ 34,200.

It is assumed that the group only worked in the group Palghar District of Maharashtra State.

The Indian police are focusing on multi-year fraud

You are looking for five people for a crypto scam that has been running in India since 2017You are looking for five people for a crypto scam that has been running in India since 2017

On June 13, the media company New Indian Express reported that five people had reportedly been booked defraud investors with a fake crypto investment.

The group promised exorbitant returns to those who invested in their crypto assetsRequest cash and check payments. After receiving the funds, the fraudsters became increasingly evasive when dealing with investors, the local police said.

None of the accused fraudsters have been arrested.

Last month the case with Amrit Bhardwaj and Vivek Bhardwaj – two brothers who managed the notorious GainBitcoin Crypto trading fraud at various levels in India– – transfer the cybernetic cell to the local police crime branch.

India is stepping up action against Darknet

The Indian police have recently expanded their efforts to suppress crime on the Darknetand recently announced plans to build an internet portal with AI support for online surveillance and to work with international regulators stop anonymous vendors in the open market who sell drugs or medicines without a license.

The perception that crypto assets can be a tool for illegal activity could already be very damaging to the digital assets sector in India The country’s finance ministry proposed a new ban on cryptocurrency on June 12, just three months after the Supreme Court ruling lifted the ban on providing financial services to cryptocurrency companies in the country.

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