India’s law enforcement authorities are said to have seized the encryption assets associated with the Bitconnect Ponzi scheme that fraud in hundreds of victims before the collapse in 2018.
Indian Express Reports The Directorate of Enforce (ED) seized a 1646 rupees (Indian rupees) rupees or approximately $ 190 million of encryption assets during the BitConnect investigation.
The Agency, which is responsible for implementing economic laws and combating financial crimes in India, has also seized 1.35 million rupees (15550 dollars), and four -wheel drive vehicles and digital devices during searches in the Indian state of Gujarat on February 11 and 15.
ED says that from November 2016 to January 2018, people behind the scheme collected money from investors around the world, including participants in India, says that people behind the plan collected money from investors worldwide, including the participants in India.
Satish Kompany, co -founder of Bitconnect founded a network of promoters who received commissions when they seduced investors in depositing cash and bitcoin (BTC) in the alleged lending program.
Also promoters to publish The fake information about the Bitconnect web portal, with a claim of 1 % daily returns or about 3700 % per year.
ED says that although BitConnect represents it can generate up to 40 % of the monthly revenue using a special trading robot, the planned perpetrators did not use the money invested for trading but they were killed in digital portfolios they control.
The authorities also say that the encryption portfolios that conducted transactions through the dark network network to make them unsuccessful, but by following the transactions on the series and collecting ground intelligence, the agency has determined the governor and location of the devices that carry encrypted currencies.
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Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.
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