India Arrests 10 in Chinese Crypto Fraud Crackdown
The post India Arrests 10 in Chinese Crypto Fraud Crackdown appeared on BitcoinEthereumNews.com. India arrests 10 for laundering crypto funds for Chinese fraud gang. Rs 80 lakh transferred through Indian accounts in digital scam. Two suspects turn witnesses, aiding probe into cross-border crypto fraud. Indian police have arrested 10 people for helping a Chinese cybercrime gang in a major crypto fraud case. The Cyber Crime team made the arrests in collaboration with the Uttar Pradesh police. They were picked up in various cities such as Raebareli, Lucknow, and Gonda. Indian Police Uncover $85K Crypto Fraud Linked to China These people, as the police allege, were employed by a Chinese gang that got involved in online scams. They primarily worked to turn black money into digital currencies. They transferred the funds via a number of bank accounts whereby they used them to purchase the digital coins. Then, they returned the cryptocurrency to the Chinese group and retained some commission on their own. This was done following a long investigation by the police. The case was transnational and it involved cross-border digital fraud. The agencies were even more cautious when they saw that cyber scams and frauds associated with assets that are digital have increased in India. Due to poor knowledge in the last few months in India, a lot of people have been losing out in fake investment schemes and online tricks regarding crypto currencies. In addition, the police discovered that or about Rs 75 to 80 lakh (nearly $85,000 to $92,000) was transferred to the Chinese group in India just in the previous two months. These transactions were being done through Indian bank accounts which were run by arrest people. This underlines the role of local agents in playing significant roles in international cyber frauds. Moreover, the officials showed that the organization was very organized. Members opened up several accounts in different banks.…
The post India Arrests 10 in Chinese Crypto Fraud Crackdown appeared on BitcoinEthereumNews.com.
India arrests 10 for laundering crypto funds for Chinese fraud gang. Rs 80 lakh transferred through Indian accounts in digital scam. Two suspects turn witnesses, aiding probe into cross-border crypto fraud. Indian police have arrested 10 people for helping a Chinese cybercrime gang in a major crypto fraud case. The Cyber Crime team made the arrests in collaboration with the Uttar Pradesh police. They were picked up in various cities such as Raebareli, Lucknow, and Gonda. Indian Police Uncover $85K Crypto Fraud Linked to China These people, as the police allege, were employed by a Chinese gang that got involved in online scams. They primarily worked to turn black money into digital currencies. They transferred the funds via a number of bank accounts whereby they used them to purchase the digital coins. Then, they returned the cryptocurrency to the Chinese group and retained some commission on their own. This was done following a long investigation by the police. The case was transnational and it involved cross-border digital fraud. The agencies were even more cautious when they saw that cyber scams and frauds associated with assets that are digital have increased in India. Due to poor knowledge in the last few months in India, a lot of people have been losing out in fake investment schemes and online tricks regarding crypto currencies. In addition, the police discovered that or about Rs 75 to 80 lakh (nearly $85,000 to $92,000) was transferred to the Chinese group in India just in the previous two months. These transactions were being done through Indian bank accounts which were run by arrest people. This underlines the role of local agents in playing significant roles in international cyber frauds. Moreover, the officials showed that the organization was very organized. Members opened up several accounts in different banks.…
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