Haryana police arrests 4 in cryptocurrency fraud

Haryana Police has arrested 4 fraudsters together with the mastermind for allegedly duping individuals within the title of on-line enterprise involving bitcoin transactions. Director General of Police (DGP) Manoj Yadava on Thursday mentioned 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 large returns in the event that they make investments cash on-line for bitcoin enterprise, he mentioned.

The DGP mentioned the difficulty got here to gentle not too long ago when Pravesh Kumar, a resident of Sector-23, Sonipat filed a criticism with the police alleging that he was cheated by Chahal, a resident of Madha village in Hisar district.
According to an official assertion, a case was registered in Cyber Police Station, Panchkula beneath related sections of IPC and IT Act, the DGP mentioned.

Police together with cyber consultants began the investigation and it was revealed that a number of individuals had been concerned on this luring gullible individuals to spend money on bitcoin.

“In the ongoing investigation, four accused along with their mastermind have already been arrested,” Yadava mentioned.


The DGP knowledgeable that Chahal created a faux Facebook account within the title of 1 Vikas Kumar and claimed to point out the pockets handle of the cryptocurrency alternate.

On October 1, 2019, he gave this blockchain handle by Facebook 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 alternate Binance, the DGP mentioned.

“The complainant believed in the accused as 1,871 bitcoins existed in the wallet, which belonged to Binance and not to Harinder Chahal, at the time of the incident and hence got duped of his money,” he mentioned.

The DGP additional mentioned, “It was also revealed that Harinder Chahal has been found in possession of many cryptocurrency wallets but none of them had any actual bitcoins or any form of cryptocurrency.”

“The wallets held non-spendable (dummy) bitcoins which were used fraudulently to trick victims into believing that the accused was in possession of bitcoins which in reality did not exist,” he added.

Congratulating the crime department crew for busting the fraud, the DGP mentioned, “We are collecting more information about the numbers of innocent people who have been cheated by the scammers. Efforts are being made to trace the other accused.”

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