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- Police in Shikha Goel have warned Indian citizens about the various methods used by scammers.
- He advised Indians not to transfer their cryptocurrencies to unauthorized private wallets.
- Shikha revealed that 14 of the 16 crypto fraud cases are related to investment and trade.
On behalf of the Hyderabad City Police, Addl. Commissioner Shikha Goel warned Indian citizens about the various methods actively used by scammers to deceive investors. These include illegitimate bank transfers, investment opportunity earnings, and cryptocurrency.
They [fraudsters] will ask you to share your cryptocurrency details. And once in the wallet, the money is removed.
At the same time, Goel addressed the rise in cybercrime at a police event in Hyderabad, India, and warned of the transfer of cryptocurrencies to unauthorized private wallets.
Don’t transfer your cryptocurrency to unauthorized private wallets Don’t fall prey to the scams of #BeCyberSmart pic.twitter.com/eJOwsnLSmX
– Shikha Goel, IPS (@Shikhagoel_IPS) December 26, 2021
In an interview with The Hindu, Goel revealed that 14 of the 16 cases of cryptocurrency fraud are related to investment and trade. According to Goel, the scammers are persuading targets to transfer newly acquired cryptocurrencies for higher profits.
In addition to the interview, Goel added: “People have been defrauded of Rs 3.45 crore (approximately $ 458,000) in a bid to get higher return on investment in cryptocurrencies.”
In addition, the Telangana state government has launched an India Blockchain Accelerator program to promote the early stages of Web 2.0 and Web 3.0 and blockchain developers. Hence the acceleration of blockchain in India.
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