Indian authorities arrested 8 individuals several days ago in connection to a $300M crypto scam dating back to 2018, four of whom being police officers. Their cryptocurrency scam which has previously victimized 100,000 people has now continued to defraud millions out of 5,000 government officials and 1,000 police personnel. A total of 56 complaints have been made against them over the past 2 years, prompting investigations led by India’s SIT (Special Investigation Team). This investigation found that 100 people involved with the scam had made $240,000 each and another 200 had made around $120,000 each. While many of those involved with the scam have been arrested, the alleged originator of this crypto rug pull plan, Subhash Sharma, has yet to be apprehended.
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Indian Police Arrest Several Individuals involved in a $300M Crypto Scam
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About the Contributor
Mathew Wiles, HS Reporter
Hello, my name is Mathew Wiles. I'm a senior at Conrad and have gone to this school for my entire middle and high school life. I'm a tech nerd that likes any and everything computer related. I'm currently in the computer science pathway. In my freetime I like to play video games or dismantle old electronics.