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Indian Police Commissioner Warns Against Crypto Frauds -Breaking

by Mike Robinson

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© Reuters. Indian Police Commissioner warns against crypto fraud
  • Indian police officer Shikha Goel advises citizens of the various methods that fraudsters use.
  • She advised Indians against transferring crypto to private, unauthorized wallets.
  • Shikha stated that the 14 crypto scam cases involved in investment and trading are all connected.

Addl. Indian citizen Shikha Goel was adamant about fraudsters’ various techniques to deceive investors. They include illegal bank transfers, lucrative investments opportunities and cryptocurrency.

They [fraudsters]You will be asked to provide your crypto details. Once you have it in your wallet the money will be taken.

Goel also addressed cybercrime at an event held by Hyderabad’s police. She warned against the transfer of cryptocurrency to private, unauthorised wallets.

Goel disclosed that fourteen of 16 cases of crypto fraud are related to trading and investment in an interview with The Hindu. Goel stated that fraudsters persuade victims to move their newly acquired cryptos in exchange for better earnings.

In addition to the interview, Goel added, “People have been cheated of 3.45 crore rupees (roughly $458,000) in their greed for higher returns against investment in cryptocurrency.”

The state government of Telangana also launched the India Blockchain Accelerator program. This accelerator program fosters early-stage Web 2.0, Web 3.0, and Blockchain developers. Hence, accelerating India’s blockchain.

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