Saturday, January 23, 2021
  • Contact Us
  • Privacy Policy
FIND CRYPTO NEWS
Advertisement
  • Home
  • Latest News
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Litecoin
    • Altcoin
  • Live Cryptocurrency Prices
  • Analysis
  • Blockchain
  • Regulation
  • Trading
No Result
View All Result
FindCryptoNews.com
  • Home
  • Latest News
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Litecoin
    • Altcoin
  • Live Cryptocurrency Prices
  • Analysis
  • Blockchain
  • Regulation
  • Trading
No Result
View All Result
FindCryptoNews.com
No Result
View All Result
Home Regulation

Indian Authorities Investigate $270,000 Crypto Exchange Scam

September 22, 2020
in Regulation
2 min read
India Is Reportedly Planning to Ban Cryptocurrency Trading
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

You might also like

XRP Token Holders to Receive Second Token Airdrop from Flare Finance

MicroStrategy Uses Bitcoin Price Dip to Add More BTC to its Billion-Dollar Treasury

Bitcoin Community Rallies to Defend Satoshi Nakamoto’s Whitepaper

Indian authorities are reportedly investigating a cryptocurrency exchange scam that allegedly duped 43 investors out of more than $270,000 through supposed cryptocurrency investments.

According to local news outlet Milenium Post, the Economic Offence Wing of the New Delhi Police is now investigating the operators of the Pluto Exchange, after receiving a complaint from 43 investors regarding the platform.

The founder of Pluto Exchange, Bharat Verma, allegedly lured investors into a scheme along with others, saying they were running cryptocurrency trading and mining operations under the company “F2poolminin.” Joginder Kumar, one of the investors, claimed he first met Pluto Exchange’s operators in Delhi’s Connaught Place.

There, they reportedly told him about the cryptocurrency investment scheme, which would offer a 20 to 30% return per month. The suspects also promised added commissions for bringing in more people into the scheme.




Kumar invested $6,500 and ended up seeing no returns. Verma told him the seizure of the company’s bank accounts and BTC’s negative price action forced them to withhold investors’ payouts, prompting the complaints.

Pluto Exchange has since reportedly moved its offices from India to Dubai. The director of the company, according to Kumar, collected over $6.8 million from the exchange.

As CryptoGlobe reported, India is planning on introducing a new law to ban cryptocurrency trading in the country, a move that would be a blow to the rapidly growing cryptocurrency scene in the country. The trading ban, could affect over 1.7 million Indians trading crypto, and a rising number of firms setting up platforms in the country.

Featured image via Unsplash.

Credit: Source link

Previous Post

Ethereum (ETH) Huge Consumer Base Growing At a Gigantic Pace More for 2.0 to Pull

Next Post

TRON (TRX) Foundation SUN Community Self-governance and Observation List

Related Posts

‘Airdrop Madness’: Crypto Trader Asks Investors to Keep an Eye out for Free Tokens
Regulation

XRP Token Holders to Receive Second Token Airdrop from Flare Finance

January 22, 2021
Peter Schiff Denies Companies Selling Gold for Bitcoin
Regulation

MicroStrategy Uses Bitcoin Price Dip to Add More BTC to its Billion-Dollar Treasury

January 22, 2021
Van de Poppe Predicts Bitcoin Reaching $40,000, Altcoins Turning Bullish
Regulation

Bitcoin Community Rallies to Defend Satoshi Nakamoto’s Whitepaper

January 22, 2021
Crypto ETP Assets Under Management Grow 95% as Institutional Demand Grows
Regulation

Crypto ETP Assets Under Management Grow 95% as Institutional Demand Grows

January 22, 2021
What Biden’s Pick for Treasury Secretary Has Said About Bitcoin and Blockchain
Regulation

Janet Yellen Writes: It’s ‘Important We Consider the Benefits of Cryptocurrencies’

January 22, 2021
Next Post
TRON (TRX) Foundation SUN Community Self-governance and Observation List

TRON (TRX) Foundation SUN Community Self-governance and Observation List

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Brazilian Authorities Intervene to Prevent Bitcoin Fraud Caught on Tape

Brazilian Authorities Intervene to Prevent Bitcoin Fraud Caught on Tape

March 21, 2020
Ethereum Investor Psychology Post Pandemic I’m Just an Old Grandma, but ETH is my Friend

Ethereum Investor Psychology Post Pandemic I’m Just an Old Grandma, but ETH is my Friend

June 3, 2020

Don't miss it

IOTA Getting Busy With More Smart City Projects on Blockchain with OBSR Foundation and Tanglehub
Crypto News

IOTA Getting Busy With More Smart City Projects on Blockchain with OBSR Foundation and Tanglehub

January 23, 2021
Bitcoin Traders Expect Volatility as Options Expire
Analysis

Bitcoin Traders Expect Volatility as Options Expire

January 22, 2021
‘Airdrop Madness’: Crypto Trader Asks Investors to Keep an Eye out for Free Tokens
Regulation

XRP Token Holders to Receive Second Token Airdrop from Flare Finance

January 22, 2021
Bitcoin Rallies Towards $24,000 as Market-Wide Uptrend Continues
Bitcoin

Bitcoin Posts Massive Overnight Rebound, But Bulls Aren’t in the Clear Yet

January 22, 2021
Peter Schiff Denies Companies Selling Gold for Bitcoin
Regulation

MicroStrategy Uses Bitcoin Price Dip to Add More BTC to its Billion-Dollar Treasury

January 22, 2021
Lost And Found: Man Recovers Bitcoin From Hard Drive Burned In A Fire
Bitcoin

Lost And Found: Man Recovers Bitcoin From Hard Drive Burned In A Fire

January 22, 2021
FindCryptoNews.com

FindCryptoNews is an online news portal that aims to provide the latest crypto news and real-time updates around the world. Feel free to get in touch with us!

Recent News

IOTA Getting Busy With More Smart City Projects on Blockchain with OBSR Foundation and Tanglehub

IOTA Getting Busy With More Smart City Projects on Blockchain with OBSR Foundation and Tanglehub

January 23, 2021
Bitcoin Traders Expect Volatility as Options Expire

Bitcoin Traders Expect Volatility as Options Expire

January 22, 2021

Subscribe Now

Loading

© 2020 FindCryptoNews.com - All rights reserved!

No Result
View All Result
  • Home
  • Latest News
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Litecoin
    • Altcoin
  • Live Cryptocurrency Prices
  • Analysis
  • Blockchain
  • Regulation
  • Trading

© 2020 FindCryptoNews.com - All rights reserved!

  • bitcoinBitcoin(BTC)$32,670.003.35%
  • ethereumEthereum(ETH)$1,258.618.01%
  • tetherTether(USDT)$1.000.37%
  • rippleXRP(XRP)$0.2756363.47%
  • cardanoCardano(ADA)$0.3539879.61%
  • litecoinLitecoin(LTC)$141.151.51%
  • bitcoin-cashBitcoin Cash(BCH)$434.612.48%
  • stellarStellar(XLM)$0.2742094.64%
  • eosEOS(EOS)$2.631.82%
  • moneroMonero(XMR)$139.254.85%
  • tronTRON(TRX)$0.0288903.86%
  • nemNEM(XEM)$0.2199904.90%
  • neoNEO(NEO)$24.517.48%
  • iotaIOTA(MIOTA)$0.4654434.35%
  • dashDash(DASH)$108.358.47%
  • ethereum-classicEthereum Classic(ETC)$7.474.61%