CarderPlanet
Professional
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- 2,549
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Scammers who created a pyramid scheme and operated in the Indian state of Himachal Pradesh, starting in 2018, offered investors pseudo-crypto assets called KRO or DGT.
According to Indian law enforcement agencies, the criminals managed to involve thousands of investors in the Ponzi scheme and defraud them for more than 200 crore rupees (over $25 million). Scammers lured people with promises of high returns in exchange for investing in "high-yield crypto assets" such as KRO, DGT, Hypenext, and Aglobal.
To simulate the revenue component, the criminals used network marketing schemes, encouraging earlier investors to attract new participants. And making payments at the expense of contributions received from new participants. Fake websites were created to deceive investors, where attackers manipulated the prices of coins.
After numerous complaints to the police, eight criminal cases were initiated, and then five people were arrested and charged with fraud. However, the organizer of the fraudulent cryptocurrency scheme managed to escape and efforts are currently being made to detain him.
According to Indian law enforcement agencies, the criminals managed to involve thousands of investors in the Ponzi scheme and defraud them for more than 200 crore rupees (over $25 million). Scammers lured people with promises of high returns in exchange for investing in "high-yield crypto assets" such as KRO, DGT, Hypenext, and Aglobal.
To simulate the revenue component, the criminals used network marketing schemes, encouraging earlier investors to attract new participants. And making payments at the expense of contributions received from new participants. Fake websites were created to deceive investors, where attackers manipulated the prices of coins.
After numerous complaints to the police, eight criminal cases were initiated, and then five people were arrested and charged with fraud. However, the organizer of the fraudulent cryptocurrency scheme managed to escape and efforts are currently being made to detain him.
