Fellow BitcoinTalk Members,
I am posting this as a warning to Indian users regarding the fraudulent practices of Stake.com and its affiliates. Recently, it has come to light that Stake, along with certain affiliates like Krishmasri Srikanth (affiliate username: bleed blue), have been misleading Indian users into making UPI deposits, which is illegal in India for online gambling transactions.
Key Points to Be Aware Of:Illegal UPI Deposits: Stake.com, despite knowing the legal restrictions on online gambling in India, continues to guide users into depositing funds through UPI. This practice violates Indian financial regulations, putting users at risk of legal trouble and potential ISP bans.
Affiliate Rake-In: Affiliate marketers like Krishmasri Srikanth (bleed blue) are raking in millions by encouraging Indian users to use UPI for deposits, knowingly putting them in jeopardy. These affiliates mislead users with false assurances of security and legality while exploiting a loophole for personal gain.
Censorship on Stake Forum: I attempted to expose this on the Stake.com forums, but my post was deleted without explanation. It seems Stake is actively suppressing any attempt to bring these unethical and illegal practices to light.
Consequences for Users: Indian users who follow these illegal deposit instructions risk legal repercussions, such as frozen bank accounts, blacklisting by banks, and severe penalties for using unauthorized payment channels. This is not just about losing deposits; it's about facing long-term consequences.
My Experience:After following the UPI deposit method, my bank account was frozen due to the illegal nature of the transactions. I am now facing financial hardships because of the irresponsible practices of Stake.com and its affiliates.
If you are an Indian user, I strongly advise you to avoid using UPI or any other similar deposit methods on Stake. The potential legal trouble is not worth the risk.
Final Thoughts:Stake.com and its affiliates are exploiting Indian users with illegal practices that can lead to serious consequences. Be cautious, and do not fall for the tactics used by individuals like bleed blue to lure you into depositing funds through prohibited methods.
I hope this post reaches the right audience, and that Indian users take action before facing the repercussions I am currently dealing with.
Stay informed and be cautious.
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