http://www.financialexpress.com/mar...of-rupees-in-this-fake-cryptocurrency/974916/
While Bitcoin mania surges, people lose crores of rupees in this fake cryptocurrency
A case was reported from the national capital where Delhi Police Crime Branch arrested a 32-year old man and his gang that allegedly lured people in a ‘newly launched’ cryptocurrency named “Kashh Coin."
By: FE Online | Published: December 15, 2017 10:03 AM
Cryptocurrency mania has taken the entire world including India by storm in the last two weeks or such. The investors worldwide are increasing their position in various virtual currencies to make the most of the recent gains made by them recently. However, it has even resulted in various frauds happening where people have been tricked by crooks into investing in fake digital assets. In the latest, a case was reported from the national capital where Delhi Police Crime Branch arrested a 32-year old man and his gang that allegedly lured people in a ‘newly launched’ cryptocurrency named “Kashh Coin,” reported The Indian Express. The gang allegedly promised people huge returns once the price of this virtual currency soared. The police claim that the gang ran its network pan-India and cheated people of money amounting to crores. “The accused would tell people that the cost of Kashh Coin would go up. People from across the country invested in lakhs and crores, ” told DCP (Crime) Bhisham Singh to The Indian Express. They used to invite eminent personalities to those seminars to attract more and more people, police told. The report quotes police saying that their investigation revealed Kashh Coin can be bought at a rate of Rs 3.50 per coin. A customer can create an account on the website after buying a coin or more. The police first came to know about the crime when one Arun Kumar from Delhi approached the police a few months back claiming he has been cheated Rs 25 lakh in connection with the Kashh Coin. They used to invite eminent personalities to those seminars to attract more and more people, the report added. Unlike South Korea, Japan, and the US, India doesn’t have a regulated cryptocurrency market.
