2022-02-23 06:02:11
$5.34M Ethereum Scam Suspects Detained in India Indian police arrest suspects in Rs 400 million cryptocurrency scam.
During the raid, law enforcement officers arrested four people in the city of Lanovala, seizing about 600 g of gold, cars worth more than $134,000, firearms and other items.
A day later, in Nagpur, the police detained seven more suspects of involvement in a fraudulent scheme.
According to law enforcement, the attackers urged potential investors to buy Ethereum on the ZebPay platform and then send the cryptocurrency to Ether Trade Asia's own website. By manipulating the data, they demonstrated to investors the imaginary profitability of the project, and spent the funds raised on themselves.
The police identified over 170 investors who lost more than $500,000.
Participants in the scheme are also suspected of killing one of the accomplices for refusing to disclose "passwords for important transactions."
657 views03:02