October 26, 2020

Indian police arrest participants in fraudulent cryptocurrency scheme

Uttar Pradesh Special Task Force (STF) Arrests Internet Scammers fake job offers abroad to lure cryptocurrencies from job seekers.

According to a local Times of India publication,police arrested Rakesh Kumar Singh, Bittu Yadav and Pradeep Deo, three Bihar residents who posted fake jobs on the Internet and lured bitcoins and fiat currency from unsuspecting job seekers.

Superintendent STF Rajeev MishraHe said that one of the group members promoted fake vacancies on the Internet, the second collected “fees” from interested applicants, and the third converted the funds received into cryptocurrency and transferred it to various wallets.

"The main participant in the scheme - a" fraudster "- postedfake job postings asking him to contact him. As soon as the applicant fell into the trap, the “collector” asked him to transfer money to a certain account to pay for registration, ”Mishra said.

According to law enforcement officials,criminals tricked several Indian citizens, including those living in the United States, Australia, Canada and the UK. Caught criminals participated in the scheme as “pickers,” but they revealed to the police the names of other members of the group.

In July, Indian police said they would conduct a cryptocurrency course for their employees, and in February this year, the government opened a cryptocurrency forensic laboratory.

In addition, in the summer, Indian police uncoveredcryptocurrency fraud involving the organizer of the BitConnect pyramid, and the organizer of a $ 70 million fraudulent cryptocurrency scheme was arrested in India earlier this year.

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