Sunday, September 25, 2022
HomeLaw & Politics11 crypto scammers arrested by Indian police for looting 2,000 investors

11 crypto scammers arrested by Indian police for looting 2,000 investors

Crypto Frauds have now become common in India too. Investors start investing in crypto with the motive of earning profits, but unfortunately few get targeted by the scammers. Over 2,000 people were cheated out of 40 crore rupees ($5.4 million) by a bitcoin investment scheme in India, according to authorities.

According to PTI, the number of arrests has risen to 11, with seven of them made on Sunday in Nagpur, Maharashtra. Nishid Wasnik, his wife Pragati, and two other associates, Gajanan Mungune and Sandesh Lanjewar, had been detained one day before in Pune. They went into hiding in March of last year and remained on the run until they were apprehended on Saturday, according to authorities. Wasnik used to display his affluent lifestyle to entice people to invest in a corporation he claimed to be dealing in ether (ETH) cryptocurrency, according to an official. Yashodhara Nagar police charged all 11 people under the IPC, Maharashtra Protection of Depositors Act, and Information Technology Act provisions, according to the police.

As a responsible investor, it is your duty to take all precautions. Stay Aware and Alert or as Anup soni would say “Satark rahe Savdhaan rahe”.

Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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