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Home Haryana Haryana Police arrest four in cryptocurrency fraud

Haryana Police arrest four in cryptocurrency fraud

Chandigarh, June 10

Haryana Police have arrested 4 fraudsters together with the mastermind for allegedly duping folks within the title of on-line enterprise involving bitcoin transactions.

Director Normal of Police (DGP) Manoj Yadava on Thursday stated the mastermind—Harinder Chahal alias Sonu Chahal—tricked victims into believing that he was in possession of bitcoins whereas the wallets held non-spendable (dummy) bitcoins.

Chahal and his associates used the title of Binance, one of many world’s largest cryptocurrency exchanges, with an intention to cheat gullible individuals on the pretext of providing them enormous returns in the event that they make investments cash on-line for bitcoin enterprise, he stated.

The DGP stated the problem got here to gentle lately when Pravesh Kumar, a resident of Sector 23, Sonepat filed a grievance with the police alleging that he was cheated by Chahal, a resident of Madha village in Hisar district.

In accordance with an official assertion, a case was registered in Cyber Police Station, Panchkula below related sections of IPC and IT Act, the DGP stated.

Police together with cyber specialists began the investigation and it was revealed that a number of folks had been concerned in luring gullible folks to put money into bitcoin.

“Within the ongoing investigation, 4 accused together with their mastermind have already been arrested,” Yadava stated.

The DGP knowledgeable that Chahal created a faux Fb account within the title of 1 Vikas Kumar and claimed to indicate the pockets handle of the cryptocurrency trade.

On October 1, 2019, he gave this blockchain handle by way of Fb messenger and WhatsApp messenger to the complainant (Pravesh Kumar).

Chahal duped Kumar of Rs 15,50,000 by fraudulently displaying bitcoins in his pockets which in actuality belonged to the cryptocurrency trade Binance, the DGP stated.

“The complainant believed within the accused as 1,871 bitcoins existed within the pockets, which belonged to Binance and to not Harinder Chahal, on the time of the incident and therefore received duped of his cash,” he stated.

The DGP additional stated, “It was additionally revealed that Harinder Chahal has been present in possession of many cryptocurrency wallets however none of them had any precise bitcoins or any type of cryptocurrency.”         

“The wallets held non-spendable (dummy) bitcoins which had been used fraudulently to trick victims into believing that the accused was in possession of bitcoins which in actuality didn’t exist,” he added.

Congratulating the crime department group for busting the fraud, the DGP stated, “We’re amassing extra details about the numbers of harmless individuals who have been cheated by the scammers. Efforts are being made to hint the opposite accused.” PTI

 

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