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Learning & News => News related to Crypto => Topic started by: newshunter on January 04, 2021, 07:02:21 AM

Title: Alleged 'kingpin' of a 25M rupee Indian crypto scam arrested at Delhi airport
Post by: newshunter on January 04, 2021, 07:02:21 AM

Alleged 'kingpin' of a 25M rupee Indian crypto scam arrested at Delhi airport

The man is said to have convinced people to invest in a 2017 scheme promising monthly returns of over 20%.

Source: Alleged 'kingpin' of a 25M rupee Indian crypto scam arrested at Delhi airport (https://cointelegraph.com/news/alleged-kingpin-of-a-25m-rupee-indian-crypto-scam-arrested-at-delhi-airport)

Would appreciate your opinion about this

Title: Re: Alleged 'kingpin' of a 25M rupee Indian crypto scam arrested at Delhi airport
Post by: TomPluz on January 04, 2021, 07:34:09 AM

He was just doing a big ponzi scheme and to make the whole thing more attractive he was then using cryptocurrency as the medium of paying or getting into the program. This has become like a common scam story and once the whole thing collapsed be ready for many investors to complain because they lost big money. I should know the feeling because I am a perennial victim of this type of scam, and we have to admit that we are victimized because our sense of greed had been touched somehow. Maybe it is time to stop this madness. I am happy to see the man responsible for this scam got arrested and then later on suffer in jail his mistake.