18 Arrested, Including Police Officers, in $300 Million Indian Crypto Scam
Indian authorities have arrested 18 people, including four police officers, for their suspected involvement in a $300 million cryptocurrency scam that victimized around 100,000 people. The investigation into the Himachal Pradesh scam is ongoing, and eight new arrests have been made. The scam involved fraudsters approaching victims with investment plans involving a local cryptocurrency called Korvio Coin, and several other cryptocurrencies were reportedly used through fake websites. The scam gained legitimacy because it involved police personnel, with more than 1,000 cops becoming involved in the scheme. The alleged kingpin, Subhash Sharma, remains at large, and the Enforcement Directorate is investigating the role of five women suspected of having worked as agents or promoters for him.
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