Topic: BCT India for calling out Indian Scammers (Read 472 times)

So what exactly happened? Coinbase is a custodial exchange and i believe they do not give access to your private keys/ mnemonics. So did you just share your user-ID and password and 2FA with someone??

And yeah, scammers are everywhere. Lot of Indians have made it a source of income and the lax policing is never able to catch them as they obscure themselves. Sorry for your loss. It'd be great if you can share you experience on the thread for the benefit of others.

No one can sweep away your 2 BTCs simply by calling you unless you provide them further personal details about your account. Since you are dealing in crypto you might as well be aware the risks associated with it. Entire exchanges get hacked with no fault of users what to talk about someone calling you and you providing them all information about your account.

In this case you yourself are also responsible to some extent for behaving so naively. Thanks and take care in future.

Iam an Indian and live in USA,I was literally scammed by fellow Indians whocalled me from a Customercare center and sweeped away my 2 bitcoins from my Coinbase account.

I really feel sad for such situations.I was helpless ! Please dont scam innocent people scammers !!

I think even RBI warned every citizens to be careful with such loan apps which are not following the regulatory measures and not a real banking institutions.They simply work like a middlemen and the funds were invested by outside of India like said Chinese maybe but all the loans were sanctioned by the Indians and blackmailed their fellow Indians as well.

It seems like the Cashaa CEO Kumar Gaurav has partnered with an NBFC in Jaipur to launch a new website called Unicas which allows you to buy some crypto and also to open real branches in Jaipur.

Jaipur is a tourist destination so if anybody is there the next time, could you verify what kind of services are they offering. It will be important to know that by what way they are providing custody of the BTC to their customers or if it is going to be a custodial service.

Due to their past record of losing customer funds, I am keeping this here as a potential scam investigation.

Hope you guys have heard about the loan app scam in Hyderabad doing the rounds in print media. One of the articles mentioned that International transactions were done using bitcoin.

Seems like a case of lending and borrowing with android apps at a large scale. Has anybody else come in contact with these people. I am sure we have a lot of people from Hyderabad at the forum.

What was going on here??

The app was being run by some Chinese guy.

Link to the topic in Bitcoin discussion Sub

thanks sir I'm Newbie And I Appreciate Your Teaching You Are Good Man Very Clearly Explain me, 🙂

What topic exactly you aren't interested in? The scammers rampant in the Indian crypto scene or sharing such posts with people to let them know. Well, at the end, if you decided to share it with your followers then its a good thing. Do you have a social media account with a large following or something?

I was not interested in this topic, but in vain. I will definitely share this information with my subscribers in social networks

This company, Cashaa, does not appear to b registered in India. The founder, though Indian, has registered it outside of India and unsuspecting Indians are falling for it. A tweet by the founder also indicates that they are invited to a conference where many Indian government bodies will be present.


Source: https://twitter.com/kg_Cashaa/status/1285863099371622403

Thanks for your replies guys. Some really good inputs here.

This is one of the typical examples. There are plenty of such groups on telegram where the scammer will throw an air of sophistication and knowledge to gain confidence of these people. You are absolutely right about the semi-urban/ semi-rural demographic that they target.
This is an area where I think we as a community can actually be of some help. We have to find some anonymous means of undermining such organized attempts on telegram. I would personally be very interested in something like this.

Naturally. But kudos to you for attempting this. Now this is something we need to do in a more "planned crusade" manner.



Those are not strong words at all. Heisenberg is absolutely right. He is one of the few, probably only post-2017 Indian member at the forum who has actually ventured into the intricacies of bitcoin technically. The frustration on seeing people just falling for bounties, scams, trading etc and then earning the "Pajeet" tag from the global community is real. Most of the new exchanges are only turning people towards trading with all sort of options and derivatives trading. Experienced stock/ forex traders are then making use of the volatility to earn good profits but the overall ecosystem suffers.
Heisenberg, Man, I don't think anything can be done for the trading aspect. It is a necessary evil now. As individuals, we have to choose our battles. Getting into the technical nitty-gritty is as good a choice as any. People in India are mostly interested in Alts. The biggest communities are in Alt-projects like Ziliqa, Bluzelle, even Tron. I would say that we HAVE to find common ground with them to see how it can be beneficial overall.

They are not really intelligent. The standard is pretty low in India at least. It needs just basic knowledge about something novel and a shallowness of soul to wrap that knowledge in big words and be willing to fool people. All these jobless passouts from Tier-2 engineering colleges who want to earn a quick buck. From UPI scams to fooling the elderly out of their ATM pins. Pretty soul-less people. They deserve no mercy or understanding. Giving their country a bad name AND spoiling countless lives.

Well scammers are intelligent and that is what makes them expert at scamming. They know how to approach a person specially a vulnerable person is one who has underwent a mishap or like during this time of crisis, targeting those who have been hard hit is going to have more possible victims than others.

It is mean thing to speak of I know but we must all understand that scammers take advantage of people's bad habits mainly greed and fear. But hoping to live normally without getting scammed even once is unlikely, because once you lose money you understand the importance of money and keeping it safe.

The words you used are quite strong mate, sometimes people get scammed just out of mishap. Don't be so judgemental.

Truly speaking it's much easier to scam Indians in the name of making them rich within a few hours or days with bitcoin. We are very well aware that India boasts a lot of scammers in the name of cryptocurrency enthusiasts. Bitcoin in India has easily become a trading mechanism and a scammer's tool to rob the poor idiots money out of their pocket. The initiative taken up by you for the community is quite good, but it all lies with the population and how well they got to know about the technology and ways of scamming instead of trading useless shitcoins in exchanges. Our large percentage of moron population (even the educated ones) doesn't really understand the technology behind bitcoin and would start trading BTC with other alts overnight. All they need is a 2x profits or some nonsense after they wake up in the morning.

On top of that, if we (the forum users or someone who is pretty much knowledgeable in crypto than the morons) come out of the safer zone and start calling ourselves as a cryptocurrency enthusiast and if we hold btc or alts then we have a much higher probability of getting robbed all of a sudden for $10-$20. As of now even after 3 years of completely venturing into cryptocurrency space, learning the tech behind them and owning a micro fraction of bitcoin only 2 of my real life friends got to know that I am involved in bitcoin.   One of them has unknowingly linked me to a scammer last week who tried to rob $20 worth of bitcoin from me through a Ponzi MLM crypto scam. It's quite easier to get scammed and on the other hand to scam the moron population if you don't know what you are doing. The population is solely responsible for being scammed and it doesn't have anything to do with the fraudsters involved in the scam. If we are safe, then probability of losing money is lot more less.

The clown "Kumar Gaurav" was controlling the funds through a web wallet and this proves his knowledge towards security of storing the bitcoin. As far as a common Indian is concerned, having a hardware wallet alone wouldn't save you from being scammed. We should agree to the fact that we are driven towards free money and get rich quick schemes without gaining proper knowledge on any of them and until this core problem of knowledge doesn't get rectified it would be easier and easier for scammers to scam the Indian population.

DON'T TEACH THE POPULATION ABOUT BITCOIN TRADING RATHER TEACH THEM ABOUT THE TECHNOLOGY AND SECURITY BEHIND BITCOIN

This is more than enough to save each and every one from being scammed!

This is really a nice initiative towards educating people about such sites which in the end turns out to be a scam and people lose part of their savings.

Apparently, couple of months ago I also got a message in one of the groups regarding a zoom call and it was a binary option plan trying to promote their some shitcoin which is nothing more than losing your money for sure. So I just thought of attending it and listen them up. Later they had opened the platform to ask questions or any doubts regarding it. In that I realized one thing that we still have long way to go because people who were attending were sort of living in semi-urban or semi-rural type who majority of them would do not even know about crypto currencies or different coins existing in the market or just even if asked about where can they store bitcoin they would not know it. That was the situation so now you can understand it was so easy for them to trap such people and they would end up losing money.


I asked them few questions and just gave the brief info to other audiences that how such type of binary options schemes with such shit coins will results into losing the money and how previously also such schemes came and people lose money. Told them to do some research on internet before investing in such schemes in future and by then the moderator removed me from the group.

But I think some of them would know what I was speaking and might not have invested hopefully in such schemes and will refrain in future as well.

Guys, You must have all heard about the Cashaa hack after they used a blockchain.info wallet. People like this Kumar Gaurav are typical fake artist, Indian scammer who uses fake website rankings and snazzy presentation to make an idiot out of fellow indians. They trap gullible people and rob them of their savings, often selling them shitcoins. These people typically fly under the radar and use false advertising on websites, youtube and such to trap gullible Indians. You will also find a lot of Hindi youtube crypto channels doing the same. They follow the MLM and Ponzi artist methods employed by many such scammers in India.

It feels really shameful to have these people become source of information on the Indian crypto scene. We should do something about these idiots so that scammer are called out in the Indian crypto scene. Let us atleast make it difficult for these idiots by posting information that we know about their incompetence onto twitter.

Let us try to spread the word. Retweet and share please.