A 60 million USD crypto scam is being investigated by Delhi police, 200% returns were guaranteed to the investors.
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.
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.
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.