The Reemergence of Crypto Scams In India

The Reemergence of Crypto Scams In India

Crypto news Lifestyle Social
February 19, 2020 by Super System
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Two Arrested In Latest India Crypto Scam

Crypto Scam

The increase in bitcoin market value and price has birthed several turning points in the lives of people. One of such faction of people that are looking to make the most of these current price growth are scammers. One would think scammers would be more prevalent in countries where Crypto is accepted; however, they are rearing their heads in places that are a bit hostile to crypto.

Two individuals were arrested in Jaipur, the biggest state in Rajasthan. As local reports suggest, both individuals have been scamming investors for months with the promise of profitable bitcoin investments. Unbeknownst to investors, the partners never made any of the promised investments. 

Avika Mishra and Manoj Patel met their doom, when one of the investors decided to take matters into his hand, and report the scammers to local authorities. 

This arrest comes less than a week after ten were arrested for running a Ukraine based crypto scam. 

The Return Of Crypto Scammers 

Crypto Scammers are making a grand entrance into the market. At the peak of cryptocurrency acceptance and usage in 2017, lots of people lost their money to scammers. At the end of 2018, there seems to be a reduction in the number of scammers in the market. However, we are sure there are a couple of Manojs and Avikas waiting in the corner to pounce on any unsuspecting individual. 

Local police confirmed to reporters that they caught both scammers as they were making their way out of town. 

“Both were arrested on their way to the airport,” said Anil Paliwal, the DG, anti-terrorism squad. 

The actions of Manoj and Avika won’t be the last we get to see as far as cryptocurrencies are concerned. As long as the industry is moving forward, people would still make attempts to swindle other folks of their money. 

 

 


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