Don't invest in a project that you and not familiar with. When Police and key Politicians are involved in any scam then it will be hard for the financial crime agencies to persecute those scammers until new government will come and take over. And I believed this what has happened in India scam scandal. The government in 2018 was friendly to those key players of the scam so he could not nabbed them at that time but the new government has to clean the system by arresting those fraudsters.
Cryptocurrency education is most needed in everywhere now because it will help to give awareness to them and the kind of cryptocurrency investment they will involve themselves. And another thing people need to do is to check the coin in the CEX platforms first before proceeding. We thank God that they are finally arrested.
Topic: $300 Million Crypto Scam in India. - page 2. (Read 254 times)
A lot of scams is everywhere. And if this has taken for so long before they've been finally arrested, there is a potential huge ring that circulates from there. The ones arrested are just likely the rats that are being commanded by whoever is at the top of their scam chain.
And for the people that have been thinking of multiplying their money, the best thing is to keep unstoppable researches so that they won't be a victim anymore and set some signs of red flags so you can flee as early as you can.
And for the people that have been thinking of multiplying their money, the best thing is to keep unstoppable researches so that they won't be a victim anymore and set some signs of red flags so you can flee as early as you can.
Authorities find hard to stop this scamming operation since there are so many people doesn't learn from other people mistake that's why there's a lot of money taken by this scammers from many people in that country or even outside. That's the reason why people need to be vigilant and help theirselves to gain knowledge about those scams so that they will not fall on any to good to be true offer that they may encounter in future.
To many same like incident happen also to many warning coming from government and to those people who experience a huge scam on their life so better from those people still thinking to invest on ponzi scheme to stop so that they would not became a new victim of those syndicates.
I wouldn't say that it's surprising that they are getting nabbed just now. There are tons of scam on the internet. People still don't learn how to use the internet safely, not just crypto. It should be taught, but not everyone will listen. I learned it the hard way, but I was young and didn't lose much. For others, it just might be harder.
A lot of scams is everywhere. And if this has taken for so long before they've been finally arrested, there is a potential huge ring that circulates from there. The ones arrested are just likely the rats that are being commanded by whoever is at the top of their scam chain.
And for the people that have been thinking of multiplying their money, the best thing is to keep unstoppable researches so that they won't be a victim anymore and set some signs of red flags so you can flee as early as you can.
And for the people that have been thinking of multiplying their money, the best thing is to keep unstoppable researches so that they won't be a victim anymore and set some signs of red flags so you can flee as early as you can.
Crypto scams are happening everyday, it's only the ones that hits the headlines that we're aware of, it's really that bad that scammers are coming up with new tactics everyday to defraud people of their hard earned money. Imagine how many years that it took for this particular scam in India, to see the limelight, further imagine if the scammers tracks and identities have been cleverly hidden, then there wouldn't have been any arrests. There is need for people to be more enlightened about cryoto dealings, in order not to fall prey to this wicked predators. I see a lot of WhatsApp and telegram adverts that will entice you with bogus promises of making massive profits in a short time if you invest in some crypto coin. And you'd be surprised that people will actually ignorantly waste their money in this scams, I think that governments should be monitoring these scam adverts and arrest the criminals before they commit their evil deeds.
One time an exchange called Patricia, floated in Nigeria, it wasadvertced on TV to gain trust, and people were using their exchange to facilitate their crypto transactions, all of a sudden the exchange collapsed with people's money in it. I think till date that people have not recovered their investments in the exchange, they came out and gave some assurance, but as far as i know, that was how the matter ended. We wouldn't know whether the intention of the exchange was to accumulate people's funds and go down, a ponzi in disguise.
One time an exchange called Patricia, floated in Nigeria, it wasadvertced on TV to gain trust, and people were using their exchange to facilitate their crypto transactions, all of a sudden the exchange collapsed with people's money in it. I think till date that people have not recovered their investments in the exchange, they came out and gave some assurance, but as far as i know, that was how the matter ended. We wouldn't know whether the intention of the exchange was to accumulate people's funds and go down, a ponzi in disguise.
I don't think this topic belongs here since the event is not related to Bitcoin but involves a shitcoin called Korvio Coin. The developers of this coin connived with some government officials to scam the public. This is what happens to greedy or uninformed people who are enticed by quick money or blinded by ignorance. It is also a lesson for people to do their research and invest in only reputable coins like bitcoin. It is also good to know that the investigation into the crime is ongoing and some people connected to the scam have been arrested. I feel sorry for the victims who have lost close to $300 million to this scam.
This is yet another major scam that's been making the headlines recently. According to the news, this scam apparently kicked off back in 2018, probably during the crypto market's bullish phase in 2017 and early 2018. What's hard to believe is that the people behind it are only getting nabbed now, which might have something to do with the involvement of some government officials.
https://www.financemagnates.com/cryptocurrency/300-million-crypto-scam-indian-authorities-arrest-8-cops/
----
I think that even when a certain country is regulating crypto, crypto education remains crucial. The truth is, it's not limited to that country; even here in the Philippines, we're dealing with a surge of crypto scams. While what happened is absolutely unacceptable, hopefully, it will teach people to stay vigilant against investment scams in the crypto world. The coin they're talking about here is KRO Coins or Korvio Coin. I checked it on CoinMarketCap and it's not listed there. So, it seems these scams mainly target Indians since it's only recognized as a local cryptocurrency.
Quote
Authorities Are Involved
The perpetrators primarily sold investments linked to a local cryptocurrency called Korvio Coin (KRO coins). They also reportedly sold several other cryptocurrencies through fake websites. At least one of those cryptocurrencies was a rug pull, as the developers abandoned the project after receiving the investment.
Four police officers are among the most recent individuals who have been arrested.
The perpetrators primarily sold investments linked to a local cryptocurrency called Korvio Coin (KRO coins). They also reportedly sold several other cryptocurrencies through fake websites. At least one of those cryptocurrencies was a rug pull, as the developers abandoned the project after receiving the investment.
Four police officers are among the most recent individuals who have been arrested.
https://www.financemagnates.com/cryptocurrency/300-million-crypto-scam-indian-authorities-arrest-8-cops/
----
I think that even when a certain country is regulating crypto, crypto education remains crucial. The truth is, it's not limited to that country; even here in the Philippines, we're dealing with a surge of crypto scams. While what happened is absolutely unacceptable, hopefully, it will teach people to stay vigilant against investment scams in the crypto world. The coin they're talking about here is KRO Coins or Korvio Coin. I checked it on CoinMarketCap and it's not listed there. So, it seems these scams mainly target Indians since it's only recognized as a local cryptocurrency.
Jump to: