Investors Lose $60 Million In A Massive Crypto Fraud
Crypto Fraud: Delhi police has launched probe in a scam of 500 crore rupees (over 60 million USD), which was duped from people by saying they will be invested in an upcoming cryptocurrency. The investors were promised to get 200% returns.
The accused took the investors to Goa and conducted meeting, events in lavish hotels. They made investors understand complex terms of crypto like blockchain technology and other to get out huge amounts. They have allegedly fled the country.
What does the FIR states for this fraud?
The FIR states that the suspects had said that they were about to build a new office in Dubai. However, when some of the investors went to Dubai to cross-check they were shown some random under construction buildings. They also claimed to be having a cooperative bank in Maharashtra, which turned out to be a lie.
Also read: Robocallers Are Now Behind Your Cryptocurrency
One of the victim wrote in his complaint that despite knowing the fact that the investors are putting their hard earned money, the accused played with their emotions. Some of them had put their saving whereas others had took loans.
One of the victims alleged that they were told that the crypto had already been launched in several other countries. The crypto was said to be equivalent to 2.50 USD, at present and the rate was going to boom in the future.
The defendant promised us up to 200% profits in a year and a guaranteed return of between 5% and 20% per month in addition to other rewards and bonuses. To check the status of their money, convert it to Bitcoins, or withdraw it online, the accused had access to two websites. However, the website always displayed an error when they attempted to do so.
- John Bollinger Sees ‘W’ Bottom Forming in Ethereum and Solana, Not Bitcoin
- Robert Kiyosaki Calls Bitcoin and Ethereum ‘Real Money,’ Urges Investors to Ditch ‘Fake’ Fiat
- ‘Sell Gold, Buy Bitcoin’: Expert Flags Major Market Bottom Signal
- Ripple Makes ‘Unusual’ $500M Transfer Amid $1 Billion XRP Treasury Plans
- ‘I’m Going Bonkers’: Dave Portnoy Says He’ll Buy XRP Again If It Dips Below This Level
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?
- Ethereum (ETH) Price Prediction: Analyst Eyes $7,000 by Q4 as Bitmine Accumulates $281M ETH — Will History Repeat Itself?
- HYPE Price Teeters Amid Weak Technicals and Soaring Liquidations
- XRP Price Prediction As Ripple Announces $1B Treasury Plans – Is a Rebound Imminent?
- Bitcoin Price Prediction Amid Gold’s Parabolic Rally to Second-Largest Reserve Asset
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
