Crypto fraud nexus busted, six arrested
NEW DELHI, June 18 -- In a major cybercrime crackdown, Delhi Police on Monday busted a syndicate that defrauded individuals by promising high returns on cryptocurrency investments. Six people, including the alleged mastermind, have been arrested for orchestrating the elaborate scam involving the USDT (Tether) cryptocurrency, police said.
According to investigators, the gang lured victims via Facebook Messenger, enticing them to invest in USDT through a fake trading application called Bitop.
DCP (south) Ankit Chouhan said in one reported case, a victim transferred Rs.10 lakh, believing it was being invested in cryptocurrency.
"The application displayed fake profits, but when the victim attempted to withdraw the amount, the fraudsters demande...
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