Bitcoin is the currency of choice for India fraud and kidnapping

Bitcoin is the currency of choice for India fraud and kidnapping


A India bitcoin investors lost their money in a scam. Allegedly in retaliation he kidnapped a trader, and require the use of bitcoin for ransom.

According to local news sources said IndianExpress, a man named Deepak has been detained by police. He kidnapped Banur traders in AshuJain accumulated about six million rupees in debts.

In his purchase of bitcoin never received, and the establishment of large amounts of debt in the stock market, Deepak and his gang group asked to pay virtual currency to get Jain security.

The police told the newspaper, he was posing as an investment adviser, contacted by Jain Zirakpur in the number of some real estate developers. Then call Jain to buy a house when they met, they kidnapped him.

A lot of examples

With bitcoin related crime seems to have randomness. This is just the last one in India domestic news numerous case examples in recent years.

At the same time, India appeared a large scam involving bitcoin. WebworkTradeLinks also called Addsbook is an obvious Ponzi scheme, is currently under investigation. In just four months from 200000 investors in 500 million rupees ($77 million).

The project’s website even false endorsement from the famous Bollywood stars.

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