Pune: Maya police registered 54 CRYPTOCURRENCY fraud cases January-November-end of this year, compared to two cases in 2020.
Maya police received three complaints applications against 11 people in the last two weeks of November to cheating the complainants in investing in Cryptocurrency.
The suspects claimed to be involved in the ‘trade’ of various Cryptocurrencies and they were tricked by complainants by floating various different cryptocurrencies schemes.
In the past two weeks, people from Chatathrungi, Sahakarnagar and the DECCAN area filed complaints with cyber police.
One of the victims invested by RS85 Lakh with a man, while the other two were invested by RS10 Lakh and RS5 Lakh, each with other groups of men.
“Yes, we received more fraud complaints involving Cryptocurrencies.
People believe that they will benefit sky on their investment in Cryptocurrencies after hearing about the benefits obtained by others.
Without verifying the trust of the site or people, people invest their money and fall into promises made by the Cheater, “said Deputy Commissioner of Police (Maya) Bhagyashri Navatake.
Police said the suspects promised to return handsome for the victims of their investment in various cryptocurrencies, but the suspects were cheated they.
“People want to get more in a fast time.
They want the benefits of their investment when compared to stocks and mutual funds, “said Navatake.
Navatake said, “People have been cheated by suspects in three different ways involving virtual currencies.
First, the suspect floated the scheme between people and promised a handsome return on investment in Cryptocurrencies.
Second, the suspects prepare their own virtual currency and ask investors to invest in them and then deceive them.
Finally, the suspect prepared a fake or false exchange of prominent Cryptocurrencies and deceiving investors.
” He said, “Until now, there is no legal framework for controlling or regulating the spread and use of Cryptocurrencies in India.
However, even though this, people invest in Cryptocurrencies “.
“It is not known whether it is a commodity or currency, but the person who bought in pieces,” said a senior police officer.
A senior police said that the central government was discussing about creating a regulatory regime for official digital currencies issued by the Reserve Bank of India (RBI) and prohibiting private Cryptocurrencies.
Until now, Cryptocurrencies is not a legal tender.
The government is likely to discuss the bill on Cryptocurrencies immediately and will frame the rules regarding the use and exchange of cryptocurrencies, senior police officers added.
In the last case in Kerala, Kannur police arrested four people for allegedly running the Cryptocurrency Ponzi scheme by promising high returns to investors in fraud estimated to be around RS 100 Crore.
The defendant’s defendant in the Ponzi scheme in the Bengaluru Long Reach Technologies name and attracted investment from five schemes by promising a big profit from one percent to five percent every day.
When they cannot pay the promised return investors or money they have invested, they offer Cryptocurrency investors called Moris coins which are also cheating.
A large number of people have lost their money through the scheme, TII report said.
The scheme was run by the defendant operated on the money chain model.
Pune: 54 Cryptocurrency cheated cases this year
