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Indian Authorities Bury Proof They Were Always Too Busy Making Money Off Crypto to Care About Any Actual Regulation

An illustration: A cartoon Indian authority figure is shown holding a large hammer and smashing down on an overflowing money bag with cryptocurrency coins spilling out from it in all directions; nearby are two people looking worried as they hold onto their own bags of cash which have been partially torn open, revealing empty spaces where the missing funds were once held. In the background there's a faint image of a Ponzi scheme pyramid collapsing and crumbling to dust.

It’s about time someone finally took action against these crypto scams that have been fleecing gullible investors for far too long! Highrich Online and HR Crypto Coin are just two examples of how cryptocurrency is being used as a vehicle for Ponzi schemes. People need to wake up and realize that there’s no inherent value in most cryptocurrencies – they’re nothing but numbers on a computer created from thin air

Source: bitcoin.com

India’s Enforcement Directorate (ED) has conducted searches that uncovered a Ponzi scheme involving cryptocurrency operations and HR Crypto Coin, leading to significant asset seizures and freezing. The coins were part of the scheme, luring people to invest with promises of a 15% annual interest rate and offering 30% direct referral income for introducing new customers. India’s Enforcement Directorate (ED) announced on Friday that the Kochi Zonal Office executed search operations […]

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