Investors cheated of Rs 500 crore in crypto fraud
By MYBRANDBOOK
A case of fraud linked to cryptocurrency has been reported in Delhi, with a group of investors being deceived of up to Rs 500 crore after being assured of 200 percent returns on their investment within a year.
Apart from promising a 200 percent annual return on investment, the accused had also assured of 5-20 percent monthly returns, which would be credited in the investors’ bank accounts on either 5th, 15th or 25th day of the month.
The victims have alleged that the accused had organised exorbitant events at a five-star hotel in Goa, where they explained the blockchain technology and claimed that the value of their upcoming cryptocurrency would skyrocket in the future.
The hacker had collected the money on the pretext of investing in their upcoming cryptocurrency, whose value they claimed to be $2.5. The accused have allegedly fled the country.
A victim said the accused had shared two websites that were meant to update them about their investment, and provide the option of converting it into Bitcoin or withdrawing it online. However, an “error message” was received whenever they tried to withdraw their investment amount.
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