The incidents of cryptocurrency fraud in India have been continuously increasing, where a large Crypto RIP-off has recently surfaced in the state of Assam, which has cheated around 20 crore rupees ($ 2.4 million) from about 2000 people. The police have arrested three accused in this case, who carried out a scam called ‘RSN Crypto’. Under this scam, people were asked to invest in a crypto-based game, in which high profit was guaranteed. However, the fraudsters later escaped with the money. Let’s know the complete information about this matter and other important things related to it.
Unique way of fraud in RSN Crypto RIP -off
Citizens of Assam and Meghalaya were cheated under this scam. The fraudsters asked people to buy a crypto-based game, asking people to deposit at least ₹ 50,000 (about $ 610) as an initial investment. He was assured that he would soon receive high returns. However, after this the amount of investment of the people was collected by the fraudsters and then they escaped.
According to the police, three accused, Asad-ul Islam, Hasanur Zaman and Koad Ali Molla have been arrested, who were involved in this fraud. But the mastermind of this entire scam, Hekmat Ali Sarkar, is still absconding. These accused collected the money through digital wallets such as Paytm and PhonePe and then converted it to Tether (USDT) and transferred it to foreign accounts. If you want to know that What is tether So, click on the given link.
Police action and technical investigation
While investigating this fraud, the police have seized several important items, including eight mobile phones, 11 SIM cards, and two laptops. Investigations also revealed that the website of this scam was hosted on the Amazon server of China and could have global connections in its operation. Officials believe that criminals may attend the international level in this scam.
In this whole case, the police has not yet clarified how much amount has been recovered, but the investigation is going on in view of the seriousness of the case. According to the Assam Police, he has taken various steps to catch the scam mastermind Hekmat Ali Sarkar and the truth of the whole case can be revealed only after his arrest.
Conclusion
Cryptocurrency -related fraud cases have seen an increase in recent years and this case of Assam is another link to it. The police have caught the accused, but the entire network of fraud will be revealed only after the arrest of Hakmat Ali Sarkar. Earlier last month CBI arrested 3 accused after revealing Crypto RIP -off Were. Those who hid their identity and rip-off of Rs 260 crore ($ 30.6 million) through Bitcoin.
It is clear from these incidents that investors need to be highly cautious when investing in cryptocurrency and other digital currency. It is a warning of government to avoid investment plans that guarantee extraordinary returns, as they are often cheated. Despite the increasing cases of crypto-scam, police and other agencies are taking action against these crimes. In such a situation, investors should get the correct information before investing their money and do proper research.
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