Crimes pertaining to cryptocurrencies are steadily gaining traction. What is shocking is not the crimes themselves, but the manner in which they are executed. The ingenuity with which culprits execute the perfect time is truly mind-boggling.
In March, an Indian woman was duped out $55,000 worth in Bitcoin after a scammer tricked her into sharing her personal information on a cryptocurrency trading. platform
A Gujarat-based trader faced a bizarre incident on the famous P2P platform, Remitano. The crypto trader (name witheld on request) said, “A few months ago, I was trading on the platform and had sold bitcoin worth Rs 20,000 to another trader. Once i received the money, I transferred the bitcoin. What was odd about the money transaction was I received the total amount from three different accounts. Rs 20,000 was broken down into Rs 10,000, Rs 8000 and Rs 2000.”
The trader added that he received phone calls from the account holders from where Rs 10,000 and Rs 2000 were deducted, the next day. However, he absolved himself from any wrongdoing by stating, “It was not my responsibility. I do not know the person who hacked into your account. All that matters, is, that I received the money.”
He said, “I also received a call from the Punjab police informing me of the matter and had a First Information Report (FIR) filed against me.” On being asked how the Punjab Police had any jurisdiction to file an FIR on a Gujarat-based person, he opined that it may have been possible because the sender may have been based out of Punjab.
He said he had reached out to the company but they had responded with a perfunctory, “We will look into the matter” message but he hasn’t heard from them since.
This isn’t the first scam of its kind on a P2P platform. Fraudulent bank transactions on larger scale have also been happening for a very long time in India on other platforms too. However, since KYC is optional on these platforms, it is difficult to nab such crooks.
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