Investors in India lost an alleged $3B of Bitcoin, in what could be one of the country’s biggest cryptocurrency scams
Archana Chaudhary and Jeanette Rodrigues
August 9, 2018, 10:00 PM
Accusations of tax evasion and police corruption, a kidnapper who was kidnapped, a fugitive politician, and billions in bitcoin lost. This is crypto-trading Gujarat-style.
The ingredients are part of an investigation in Indian Prime Minister Narendra Modi’s home state into allegations that investors poured cash into a bitcoin-based Ponzi scheme that could exceed the country’s largest banking scandal. The fallout extends as far as Texas and has embroiled a former lawmaker, tarnishing Modi’s ruling party months before an election.
Source:
https://www.bloomberg.com/news/articles/2018-08-09/cryptokidnapping-or-how-to-lose-3-billion-of-bitcoin-in-india
Archana Chaudhary and Jeanette Rodrigues
August 9, 2018, 10:00 PM
Accusations of tax evasion and police corruption, a kidnapper who was kidnapped, a fugitive politician, and billions in bitcoin lost. This is crypto-trading Gujarat-style.
The ingredients are part of an investigation in Indian Prime Minister Narendra Modi’s home state into allegations that investors poured cash into a bitcoin-based Ponzi scheme that could exceed the country’s largest banking scandal. The fallout extends as far as Texas and has embroiled a former lawmaker, tarnishing Modi’s ruling party months before an election.
Source:
https://www.bloomberg.com/news/articles/2018-08-09/cryptokidnapping-or-how-to-lose-3-billion-of-bitcoin-in-india