The local police received a complaint from a 19-year-old student from Mumbai. He said that in November last year he called his friend to ask him about the trade in cryptocurrencies. A friend gave him the contacts of a man who allegedly understands investments. When the student called the indicated number, he was informed that the price for one cryptoactive would be 87 rupees (about $ 1). A young man was guaranteed a discount when buying cryptocurrency in the amount of 2 lakha rupees (about $ 2,319), so he agreed to conclude a deal.
One of the accused made an appointment to the student, after which he took 2 lakha rupees from him, promising in return to give cryptocurrency. However, having received money, he stopped in touch. After that, the student realized that he was deceived, and went to the police station to submit an application.
Using the records of video surveillance from the territory where the young investor met with the suspect, the police were able to track and detain three alleged scammers. During the interrogation, Mohammad Subhani Mohammad Umar Khan, Sahil Mustafa Queershi, and Gufran Khan confessed the commission of crimes and misleading investors. Now all three are in custody. The police continue to investigate the case, suspecting that the arrested could be involved in other cases of cryptocurrency fraud.
In November, the Indian police began to study the activities of a crypto scheme, from which 320 investors suffered – their losses amounted to about 23 Rupias ($ 2.73 million). According to local media, Indian regulators were going to introduce full for the ban on the circulation of private cryptocurrencies for security reasons.
Source: Bits

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