{"id":33677,"date":"2022-08-17T09:51:14","date_gmt":"2022-08-17T13:51:14","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=33677"},"modified":"2022-08-17T09:51:17","modified_gmt":"2022-08-17T13:51:17","slug":"bitconnect-founder-is-now-wanted-in-india-too","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitconnect-founder-is-now-wanted-in-india-too\/","title":{"rendered":"BitConnect Founder Is Now Wanted in India Too"},"content":{"rendered":"\n
In a complaint about missing bitcoin<\/a>, a lawyer who chose to remain anonymous named BitConnect Founder Satish Kumbhani and six other people.<\/h5>\n\n\n\n
\"BitConnect
BitConnect Founder Is Now Wanted in India Too<\/figcaption><\/figure>\n\n\n\n

Satish Kumbhani is the founder of the crypto protocol<\/a> BitConnect. An investor named him in a complaint about missing bitcoins, so Indian police are looking for him in the city of Pune in the southwest of the country.<\/p>\n\n\n\n

A local lawyer filed the complaint, which is called a First Information Report (FIR) after he said he lost close to 220 bitcoins worth Rs 420 million ($5.2 million) through multiple cryptocurrency investment platforms. A police officer who contacted correspondence about the case said that the lawyer lost the bitcoins through multiple platforms.<\/p>\n\n\n\n

The police make a First Information Report after they check the facts of the complaint. It is an official report that needs to be looked into.<\/p>\n\n\n\n

BitConnect was a popular project during the ICO craze<\/a> in the middle of 2017. It was started in 2016. It got billions of dollars from investors for a protocol that was supposed to pay out interest earnings of 10 per cent through its BCC token. Even more, benefits were given to users who brought in new investors.<\/p>\n\n\n\n

In February, Kumbhani went missing after being charged with running a $2.4 billion Ponzi scheme<\/a> that scammed investors in the U.S.<\/p>\n\n\n\n

The lawyer, who was not named, named Kumbhani and six others and said he was scammed out of his original investment of 54 bitcoins<\/a> and the returns of 166 bitcoins that he was forced to reinvest into platforms between 2016 and 2021. Indian Express first reported the filing.<\/p>\n\n\n\n

In a legal document filed earlier this year, U.S. officials said that Kumbhani had likely left India, and no one knew where he was.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a complaint about missing bitcoin, a lawyer who chose to remain anonymous named BitConnect Founder Satish Kumbhani and six other people. Satish Kumbhani is the founder of the crypto protocol BitConnect. An investor named him in a complaint about missing bitcoins, so Indian police are looking for him in the city of Pune in […]<\/p>\n","protected":false},"author":39,"featured_media":33679,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[152,4196,366],"class_list":["post-33677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitconnect","tag-scam"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-99.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/33677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=33677"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/33677\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/33679"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=33677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=33677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=33677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}