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CRYPTOCURRENCY PONZI SCHEME
CBI busts Rs 350 crore countrywide crypto ponzi scamThe CBI has registered a case against seven individuals involved in a Rs 350 crore crypto ponzi scam, conducting raids across multiple citi...- Crypto kingpin behind Rs 200-crore fraud in Himachal Pradesh still at largeThe frauds used a combination of misinformation, deception, and threats to maintain control over their scheme and continued to extract mone...
- Govinda may be interrogated by Odisha police for alleged involvement in Rs 1,000-cr online scamThe company, according to the EOW, was involved in illegally operating a pyramid-structured online ponzi scheme under the garb of crypto in...
- Cryptocurrency Scam: Economic Offences Wing exposes Rs 1,000 crore fraud spanning across IndiaThe Economic Offences Wing of the State Crime Branch has uncovered a nationwide cryptocurrency scam run by STA Token, a company that lured ...
- India's money laundering rules to apply to crypto trade, states govt notificationExtending India's money laundering rules to cryptocurrencies will give authorities greater authority in monitoring the transfer of these as...
- India's money laundering rules to apply to crypto trade, says govt notificationThe exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets and the t...
- Govt to launch awareness campaign on crypto and online gamingNew strategy to target various asset classes and cover all Ponzi schemes.
- This Ponzi crypto app dupes people by offering high returnsMany bank customers are currently being conned by a bitcoin Ponzi programme that promises them big profits.
- DeFi can't hold a candle to the centuries-old trust-based system called hawalaThe appeal of changing money into TerraUSD, a stablecoin that promised 1:1 convertibility into dollars, lay in the near-20% yield on TerraU...
- Banning cryptos is the most advisable choice: RBI deputy governorMore substantially, he added, cryptocurrencies can wreck the currency system, monetary authority, banking system, and in general the govern...
- Cryptocurrencies worse than Ponzi schemes, says RBI Deputy GovernorSankar also said that since cryptocurrencies have specifically been developed to bypass the regulated financial system, it is reason enough...
- Several members of Parliamentary panel against banning cryptocurrenciesThe meeting took place against the backdrop of rising concerns in various quarters about cryptocurrencies and the possible risks emanating ...
- Government departments discuss draft bill to ban cryptocurrenciesGovernment departments have endorsed the idea of a complete ban on all types of cryptocurrency, sources said.
- Delhi police bust crypto coin minting unit in DehradunThe two accused had cheated people of over Rs 100 crore by making them invest in Ponzi scheme involving Bitcoins via their website and then...
- Cryptocurrencies are like ponzi schemes, says World Bank chiefThe development lender is “looking really carefully” at blockchain technology.
- Modi government has bad news for Indians dreaming of easy money via bitcoinsThe income tax department has sent tax notices to tens of thousands of people dealing in cryptocurrency. The notices were sent after a surv...
- Bitcoin not a legal tender in India, says Arun JaitleyThe government has recently cautioned investors to be wary of virtual currencies like bitcoin.
- Here's why India has decided to crank up its crackdown against BitcoinsThe tax department is set to issue notices to 4 to 5 lakh high networth individuals across India who were trading on bitcoin exchanges.
- Bitcoin triggers ponzi scheme fear: Government in a huddle, plans crackdownThe financial regulators are worried that a complete lack of regulatory regime for such cryptocurrencies may give rise to 'e-ponzi' schemes.
- Bitcoin surge, ICOs raise regulatory hackles on e-ponzi fearsRBI and Sebi will soon get into a huddle to prepare a framework to protect gullible investors.
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