Chandigarh UT Police’s Cyber Cell Investigates Crypto Frauds, Cheating Cases – The Indian Express

The matter includes one of a 2018 nationwide reported multi-level marketing bitcoin scam, which is pending in the apex court. A dozen people including some businessmen, retired army officers had invested in bitcoins but did not get anything in the return. So far, at least four complaints related to crypto currency have been investigated by the cyber-crime cell. Sources said one of the complainants, out of four, had alleged that he had traded in crypto currency through the dark web but later withdrew his complaint.

“Shibonk, dogscoin and titcoin along with two other crypto currencies are the most famous among investors, especially youngsters for trading in the Tricity. The reason behind the popularity of these crypto currencies is their low prices. It is easy for people for purchase these crypto currencies. Certain currencies including bitcoin, cardano, binance coin, etc., have high prices. It is not possible for everybody to purchase and invest in these currencies. The investors in these currencies range from students to well established businessmen in Tricity,” a police officer privy to many complaints said. The Union Finance Minister, Nirmala Sitharaman, had on Tuesday announced 30 per cent tax on any income generated through transfer of any digital currency, probably for the first time, indicating an acceptance of digital money. DSP (cyber cell) Rashmi Yadav Sharma said, “As per the record of complaints, matter of cheating related to crypto currencies are fewer than other cyber-crimes, including online transactions.