Crypto is the easiest medium through with scams and frauds can be committed. Its decentralized nature makes susceptible to be used unlawfully. The most recent scam case has been caught in the Indian capital, Delhi.
There are four suspects identified as Ashok Goyal Jaipuria, Asif Malpani, Baljit Singh Saini and Pradeep Arora and they have reportedly scammed about fourteen million worth of cryptocurrency. The group leader was Ashok Goyal Jaipuria and he was the one who planned the whole scheme.
It was also reported that an actor was involved. It has yet to be disclosed that who was the actor but they will also be questioned about this scam as they are assumed to have taken a part in it too. This actor promoted this scam scheme by attending an event where this scam was being promoted.
The scammers were arrested way back in February but the whereabouts of the ring leader were unknown. The police have finally caught him and arrested him just recently. The first report of the scams was submitted in Surat where the victim was scammed nearly one hundred and fifty thousand dollars ($150,000.)
A similar case popped up in January, where the Indian police arrested a group conducting scams. This group was involved in scamming about seventy-one million dollars ($71m).
Similarly, a case appeared in San Diego where a man alleged to charges against him that were associated with cryptocurrency. Cryptocurrency scams are occurring all over the world and it is necessary that we take measures to control them.