Odisha: Look out circular issued against 3 persons in Crypto scam
1 year, 3 months ago

Odisha: Look out circular issued against 3 persons in Crypto scam

Hindustan Times  

A month after the Economic Offences Wing of theOdisha Police bust a crypto token scam of ₹1,000 crore, the Bureau of Immigration has issued Look-Out Circulars against three persons of Rajasthan, who are the close associates of the main accused Gurtej Singh Sidhu. Sidhu, who masterminded the STA crypto token scam, was arrested from a hotel in Sri Ganganagar early this month EOW officials said lookout circulars have been issued against the three as they were reportedly planning to flee to Dubai and Thailand. However, most of the people, who became its members in the hope of making quick profit, started losing money as they failed to get new members for the crypto scheme. Gez, who worked as a waiter, entered India twice in 2022-23 on a tourist visa and stayed in India for about 25 days travelling to various places like Odisha, Goa, Punjab, Jharkhand and Delhi EOW has so far arrested two persons - Nirod Das, head of the scheme’s Odisha operations, and Ratnakar Palai, who looked after the social media influence of it.

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Crypto currency scam: ED freezes ₹12.5cr in Thane, Navi Mum, other cities
1 week, 6 days ago

Crypto currency scam: ED freezes ₹12.5cr in Thane, Navi Mum, other cities

Hindustan Times  

MUMBAI: The Enforcement Directorate froze Proceeds of Crime worth ₹12.5 crore, in the form of bank balances, fixed deposits and mutual funds, as part of its money-laundering probe into an alleged multi-crore fraud against multiple investors on the pretext of doubling their investment through the app, HPZ Token, and online gaming and betting websites. Crypto currency scam: ED freezes ₹ …

How a Delhi man lost Rs 12 Lakh to Telegram scammers? A crypto scam story | Tips to stay safe
11 months, 1 week ago

How a Delhi man lost Rs 12 Lakh to Telegram scammers? A crypto scam story | Tips to stay safe

India TV News  

Delhi Crypto Scam: In India, online scams are on the rise, and a significant threat involves investment scams circulating on platforms like Telegram and WhatsApp. In a recent incident, Ankit Chaudhary, an engineer from Delhi, fell victim to this scheme, losing Rs 12 lakh. Initially drawn in by a Telegram message offering a cryptocurrency investment opportunity, Chaudhary invested Rs 10,000. …

Solar Techno Alliance crypto scam: the promise of a Ponzi scheme in Odisha
1 year, 3 months ago

Solar Techno Alliance crypto scam: the promise of a Ponzi scheme in Odisha

The Hindu  

Manoj Kumar Laha, 47, who runs a paan shop in Odisha’s Bhadrak district, 120 km from the State capital Bhubaneswar, wondered every day how he could make more than ₹15,000 a month. The crypto token was an alleged facade for an illicit multi-level marketing Ponzi scheme promoted through Solar Techno Alliance, with a ‘turnover’ exceeding ₹1,000 crore in the two …

Govinda to be questioned in Rs 1,000 crore online ponzi scam
1 year, 3 months ago

Govinda to be questioned in Rs 1,000 crore online ponzi scam

India Today  

The Odisha Economic Offences Wing on September 13 said they will question Govinda in connection with a Rs 1,000 crore pan-India Online Ponzi Scam probe. The authorities said that the Solar Techno Alliance with an online presence in several countries was illegally operating a pyramid-structured online ponzi scam in the garb of crypto investment. GOVINDA TO BE QUESTIONED IN ONLINE …

Busted ponzi scheme that cheated people of over ₹1,000 crore: Odisha police
1 year, 4 months ago

Busted ponzi scheme that cheated people of over ₹1,000 crore: Odisha police

Hindustan Times  

The Odisha police on Monday said it has busted a cryptocurrency-based ponzi scheme in which more than 2 lakh people have been cheated of over ₹1,000 crore. EOW inspector general of police Jai Narayan Pankaj said the members initially got some monetary benefits which tempted them to add more members. EOW inspector general of police Jai Narayan Pankaj said like …

EOW Odisha claims to have unearthed a massive cryptocurrency-based Ponzi scam
1 year, 4 months ago

EOW Odisha claims to have unearthed a massive cryptocurrency-based Ponzi scam

The Hindu  

The Economic Offence Wing of Odisha Police on August 7 claimed to have unearthed one of the largest cryptocurrency-based Ponzi schemes involving ₹1,000 crore and two lakh investors. However, EOW chief Jai Narayan Pankaj said, “Not authorised by Reserve Bank of India or any other authority to collect deposits, the STA runs a huge Ponzi multi-level marketing scheme. After getting …

crypto scam india investors likely lost rs 1000 crore to fake exchanges cloudsek
2 years, 6 months ago

crypto scam india investors likely lost rs 1000 crore to fake exchanges cloudsek

ABP News  

New Delhi: Fake cryptocurrency exchanges have duped Indian investors of more than $128 million as the global crypto market tanks, a new report claimed on Tuesday. "We estimate that threat actors have defrauded victims of up to $128 million via such crypto scams," said Rahul Sasi, Founder and CEO of CloudSEK. Threat actors first create fake domains that impersonate legitimate …

Indian investors lose ₹1,000 crore in fake crypto exchanges: Report
2 years, 6 months ago

Indian investors lose ₹1,000 crore in fake crypto exchanges: Report

Live Mint  

Crypto scammers are using a wide range of techniques, including identity scams and phishing, to lure users into investing through fake crypto exchanges. Investors in India have lost as much as ₹1,000 crore in such scams that have spread through social media portals, according to a report by Indian cyber security firm, CloudSEK. According to the report, the scam involves …

Gullible users, lack of regulation, spur crypto cyber crimes in India
2 years, 11 months ago

Gullible users, lack of regulation, spur crypto cyber crimes in India

Live Mint  

NEW DELHI :Last week, India’s Enforcement Directorate conducted several raids as part of an investigation into a massive crypto scam that involved a fake crypto called Morris coin that was floated to dupe millions of investors in Kerala, Tamil Nadu, and Karnataka of over ₹1,200 crore. Last month, the official Twitter handle of Prime Minister Narendra Modi was “briefly compromised" …

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