{"id":62517,"date":"2023-10-24T14:19:03","date_gmt":"2023-10-24T18:19:03","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=62517"},"modified":"2023-10-24T14:19:06","modified_gmt":"2023-10-24T18:19:06","slug":"crypto-scam-dupes-over-one-lakh-people-in-himachal-pradesh","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-scam-dupes-over-one-lakh-people-in-himachal-pradesh\/","title":{"rendered":"Crypto Scam dupes Over One Lakh People In Himachal Pradesh"},"content":{"rendered":"\n

A cryptocurrency scam involving a fake coin called \u2018Korvio Coin\u2019 or KRO has duped over one lakh people in Himachal Pradesh, including many police personnel. The fraudsters promised high returns and used multiple tactics to lure innocent investors.<\/p>\n\n\n\n

\"Crypto<\/figure>\n\n\n\n

A massive cryptocurrency scam has been unearthed in Himachal Pradesh,\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> where over one lakh people have been cheated by a group of fraudsters who created a fake coin called \u2018Korvio Coin\u2019 or KRO. <\/p>\n\n\n\n

The scam, which started in 2018, involved promising handsome returns on investing in the locally made coin, which was claimed to be based on blockchain technology.<\/p>\n\n\n\n

The probe and the outcome<\/h3>\n\n\n\n

The scam was masterminded by Rajesh Sharma, who is currently absconding. <\/p>\n\n\n\n

He was assisted by his wife, son, and several other associates, who played distinct roles in the fraud \u2013 from managing back-end office activities and databases, coordinating communications, providing technological support, managing financial transactions, and handling inflow and outflow of funds, according to a statement by the Special Investigation Team (SIT) of the state police.<\/p>\n\n\n\n

The fraudsters approached people with an investment plan related to the \u2018<\/em>Korvio Coin,\u2019<\/em> <\/use><\/svg><\/span><\/a>which they claimed was developed in the Mandi district of Himachal Pradesh. <\/p>\n\n\n\n

They lured innocent people by offering them attractive returns ranging from 10%<\/strong> to 40%<\/strong> per month. <\/p>\n\n\n\n

They also used various tactics to entice investors, such as conducting seminars, distributing pamphlets, creating websites and social media pages, and giving incentives and commissions to existing investors to bring new ones.<\/p>\n\n\n\n

The investors were asked to deposit money in bank accounts or e-wallets linked to the fraudsters and were given login IDs and passwords to access a dashboard where they could see their balances and returns. <\/p>\n\n\n\n

However, the dashboard was fake and manipulated by the fraudsters. The investors were also given certificates and receipts as proof of their investment, but these were also bogus.<\/p>\n\n\n\n

The scam came to light when some of the investors tried to withdraw their money and found that they could not access their accounts or contact the fraudsters. They then approached the police and filed complaints against the scamsters.<\/p>\n\n\n\n

A sign of crypto market volatility<\/h3>\n\n\n\n

The SIT investigations have revealed that at least one lakh people have been duped by the fraudsters in the cryptocurrency scam, and 2.5 lakh IDs <\/strong>have been found \u2013 which included multiple IDs of the same person. <\/p>\n\n\n\n

The accused used a combination of mobile numbers, email IDs, bank accounts, and e-wallets to carry out the fraud. The SIT<\/use><\/svg><\/span><\/a> has arrested 23 people<\/strong> in connection with the scam and seized over Rs 10 crore from their bank accounts and e-wallets.<\/p>\n\n\n\n

Shockingly, over a thousand police personnel have also fallen victim to the scam. <\/p>\n\n\n\n

While a majority of them were duped of crores of rupees,<\/use><\/svg><\/span><\/a> some of them made huge gains, opted for voluntary retirement scheme (VRS), and became its promoters. <\/p>\n\n\n\n

The SIT is probing the role of these police personnel in aiding and abetting the scam.<\/p>\n\n\n\n

\u201cWe will get all the wrongdoers\u2026 The investigation is progressing in an organized and planned manner,\u201d <\/em>Director General of Police (DGP) Sanjay Kundu had told PTI earlier. <\/p>\n\n\n\n

He added that all those involved in the scam will be dealt with strongly as per law.<\/p>\n\n\n\n

Meanwhile, the police have cautioned the general public to remain vigilant and exercise caution on such investment opportunities, particularly in the cryptocurrency space. <\/p>\n\n\n\n

They have advised people to verify the authenticity and legality of any scheme before investing their hard-earned money.<\/p>\n","protected":false},"excerpt":{"rendered":"

A cryptocurrency scam involving a fake coin called \u2018Korvio Coin\u2019 or KRO has duped over one lakh people in Himachal Pradesh, including many police personnel. The fraudsters promised high returns and used multiple tactics to lure innocent investors. A massive cryptocurrency scam has been unearthed in Himachal Pradesh, where over one lakh people have been […]<\/p>\n","protected":false},"author":44,"featured_media":62519,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11476],"tags":[16904,320,16905],"class_list":["post-62517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hacks-and-scams","tag-himachal-pradesh","tag-india","tag-korvio-coin"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/himachal-pradesh-crypto-scam.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/62517","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=62517"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/62517\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/62519"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=62517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=62517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=62517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}