THELOGICALINDIAN - A appropriate investigations assemblage has been set up in the Indian accompaniment of Maharashtra area there is a acceleration in bitcoinrelated scams The assemblage will booty over the analysis of all cases apropos to cryptocurrency in the accompaniment that are currently handled by assorted badge departments
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Special Unit Formed for Crypto
Minister Deepak Vasant Kesarkar, a affiliate of the 13th Maharashtra Legislative Assembly, fabricated a account apropos cryptocurrency cases in his accompaniment on Tuesday. The Pune Mirror quoted him acknowledging to a Calling Attention motion tabled by the action baton in the Legislative Council:
He explained that the new unit will be headed “by an official of the rank of added director-general of police,” abacus that it has been accustomed three months to analysis all of the companies “that accept cheated investors in the name of cryptocurrency.”
Panel to Probe Scams
The Maharashtra government has additionally absitively to conduct an analysis application “a console headed by added administrator accepted of Economic Offence (EO) Prabhat Kumar,” DNA advertisement detailed.
“The console will be advantaged to alike with axial agencies including Enforcement Directorate (ED) for delving in such scams.”
Kesarkar told the account outlet:
The Pune Mirror elaborated, “It is estimated that investors from the accompaniment were cheated to the tune of about Rs. 2,000 crore [~US$290 million] in cryptocurrency trade,” abacus that “the best accepted adjustment of cheating was alms aerial allotment beneath the multi-level business (MLM) scheme.”
Other Recent Crypto Fraud Cases
Last week, the Indian Congress affair declared that some of the top BJP affair leaders are complex in a bitcoin betray in Gujarat. The Financial Express quoted a Congress agent adage there were “reports of the accompaniment badge blackmailing some businessmen in Surat for extortion and called a above BJP administrator as one of the kingpins.”
On Monday, a burghal sessions cloister banned bond to seven badge admiral who were arrested in affiliation with a bitcoin extortion case in June, according to the Times of India. They were accused of actuality allotment of the badge aggregation that allegedly abducted and bedfast Surat-based architect Shailesh Bhatt and affected him and his business accomplice Kirit Paladiya to alteration 200 BTC.
The move by the Maharashtra government came aloof four canicule afterwards the crypto cyberbanking ban by the Reserve Bank of India (RBI) went into effect.
Editor’s Note: The bill about-face in this commodity has been updated.
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