Saturday, February 4, 2023
Crypto News
Advertisement
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos
No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos
No Result
View All Result
Crypto News
No Result
View All Result
Home Cryptocurrency

India Seizes Assets in $162M Morris Coin Cryptocurrency Investment Scheme – Regulation Bitcoin News

by Crypto News
January 13, 2022
in Cryptocurrency
0
India Seizes Assets in $162M Morris Coin Cryptocurrency Investment Scheme – Regulation Bitcoin News
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

12 Best Cryptocurrency Exchanges in the US

12 Best Cryptocurrency Exchanges in the US

November 28, 2022
Using Risk/Reward Ratios in Cryptocurrency Trading I India CSR

Using Risk/Reward Ratios in Cryptocurrency Trading I India CSR

November 28, 2022


Indian Enforcement Directorate has seized property price roughly $5 million in reference to an alleged cryptocurrency rip-off involving Morris coin that has duped traders out of $162 million. The crime proceeds had been used to purchase cryptocurrencies.

India Authorities Seize Property in Alleged Crypto Rip-off Case

India’s Enforcement Directorate (ED), a specialised monetary investigation company underneath the Division of Income, Ministry of Finance, has seized property valued at 36.72 crore rupees ($5 million) in reference to a cryptocurrency rip-off.

The ED started investigating the scheme after a primary data report (FIR) was registered by the Kerala Police underneath the Indian Penal Code. A number of different FIRs had been subsequently registered by police in different districts.

The scheme includes a nonexistent cryptocurrency known as Morris coin. Nishad and his firms carried out an preliminary coin providing (ICO) for the coin and picked up cash from traders. The ED defined that they held “promotional occasions within the presence of celebrities” and used “flashy web sites” to draw traders. The police mentioned that over 900 traders had been duped out of 1,200 crore rupees.

The cash collected from traders was used to buy immovable properties, cryptocurrencies, and luxurious automobiles, in addition to pay for premium motels and resorts, the ED famous.

The seized property belong to Nishad Okay. and his associates. They embody cash in a number of financial institution accounts, land, and cryptocurrencies bought out of the proceeds of crime.

The ED detailed:

Cryptocurrencies akin to ETH, BTC, BNB, YFI, VET, ADA, and USDT, valued at ₹25,82,794, and maintained at Indian and worldwide crypto exchanges, had been discovered. They had been bought out of the proceeds of crime.

“Throughout investigation, all of the above cryptocurrencies … had been transformed into Indian rupee and transferred to the checking account by the cash’ proprietor, which had been hooked up,” the ED assertion notes.

What do you concentrate on this case? Tell us within the feedback part under.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.




Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It isn’t a direct provide or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, immediately or not directly, for any injury or loss triggered or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or companies talked about on this article.

Extra Standard Information

In Case You Missed It





Source link

Share76Tweet47

Related Posts

12 Best Cryptocurrency Exchanges in the US

12 Best Cryptocurrency Exchanges in the US

by Crypto News
November 28, 2022
0

On this piece, we are going to check out the 12 finest cryptocurrency exchanges within the U.S. For extra...

Using Risk/Reward Ratios in Cryptocurrency Trading I India CSR

Using Risk/Reward Ratios in Cryptocurrency Trading I India CSR

by Crypto News
November 28, 2022
0

Within the crypto buying and selling area, a threat/reward ratio of 1:3 is nice for a selected buying and...

Cryptocurrency relates geopolitical bipolarity, seeking regulatory transparency

Cryptocurrency relates geopolitical bipolarity, seeking regulatory transparency

by Crypto News
November 28, 2022
0

The most important cryptocurrency change on the planet, Binance, withdrew its serving to hand for FTX's liquidity disaster earlier...

Caution Urged: State issues cryptocurrency advisory to investors | News

Caution Urged: State issues cryptocurrency advisory to investors | News

by Crypto News
November 28, 2022
0

Lincoln County residents and people throughout the state in search of funding alternatives are being cautioned about the place...

PNP warns public vs fake cryptocurrency investments

PNP warns public vs fake cryptocurrency investments

by Crypto News
November 27, 2022
0

Ralph Edwin Villanueva - The Philippine StarNovember 28, 2022 | 12:00am MANILA, Philippines — The Philippine Nationwide Police -...

Load More
  • Trending
  • Comments
  • Latest
6 Altcoins to Buy As Crypto Bull Market Gets Crazier: Banking Veteran

6 Altcoins to Buy As Crypto Bull Market Gets Crazier: Banking Veteran

November 7, 2021
Tesla To Accept Shiba Inu Coin and will hit $0.1 in 2021!!

Tesla To Accept Shiba Inu Coin and will hit $0.1 in 2021!!

November 1, 2021
Bitcoin Mining Noise Drives Neighbors Nuts—a Giant Dentist Drill That Won’t Stop

Bitcoin Mining Noise Drives Neighbors Nuts—a Giant Dentist Drill That Won’t Stop

November 12, 2021
Pro-Crypto Candidates Seek an Easier Way to Accept Bitcoin, Altcoins

Pro-Crypto Candidates Seek an Easier Way to Accept Bitcoin, Altcoins

October 22, 2021
5 Hotels Accepting Cryptocurrency as a Payment Method

5 Hotels Accepting Cryptocurrency as a Payment Method

0
Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum gain up to 5%

Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum gain up to 5%

0
Four Emerging Altcoins Soar 101% or More Within Seven Days As Crypto Markets Ignite

Four Emerging Altcoins Soar 101% or More Within Seven Days As Crypto Markets Ignite

0
ADA Price Prediction: Cardano Sits and Waits

ADA Price Prediction: Cardano Sits and Waits

0
Bitcoin set for a major move –  Altcoin action incoming FOLLOW OUR LIVE SHOWS

Bitcoin set for a major move – Altcoin action incoming FOLLOW OUR LIVE SHOWS

February 4, 2023
AO VIVO AGORA: Análise Fechamento criptomoedas Bitcoin hoje (BTC), Ethereum hoje (ETH) Cardano (ADA)

AO VIVO AGORA: Análise Fechamento criptomoedas Bitcoin hoje (BTC), Ethereum hoje (ETH) Cardano (ADA)

February 3, 2023
Live Crypto Profit🤑😍 Bitcoin short 🔽 #cryptocurrency #tradingstrategy #crypto #finance

Live Crypto Profit🤑😍 Bitcoin short 🔽 #cryptocurrency #tradingstrategy #crypto #finance

February 3, 2023
CARDANO PRICE DROPS, XRP GLOBAL EXPANSION

CARDANO PRICE DROPS, XRP GLOBAL EXPANSION

February 3, 2023

Recent News

Bitcoin set for a major move –  Altcoin action incoming FOLLOW OUR LIVE SHOWS

Bitcoin set for a major move – Altcoin action incoming FOLLOW OUR LIVE SHOWS

February 4, 2023
AO VIVO AGORA: Análise Fechamento criptomoedas Bitcoin hoje (BTC), Ethereum hoje (ETH) Cardano (ADA)

AO VIVO AGORA: Análise Fechamento criptomoedas Bitcoin hoje (BTC), Ethereum hoje (ETH) Cardano (ADA)

February 3, 2023

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cardano
  • Cryptocurrency
  • Ethereum
  • Ripple
  • Videos

Bitcoin Currency Converter

Cryptocurrency Prices by Coinlib
  • Privacy & Policy
  • About Us
  • Contact Us

© 2021 Copyright Crypto News

No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos

© 2021 Copyright Crypto News