Crypto Fraud Increased In India

From India, the number of cybercrimes related to cryptocurrencies has increased, this is why the Police Commissioner of Hyderabad (capital of Telangana state) Shiha Goel urged citizens of the country to invest in digital assets only through reliable companies.

The Commissioner noted that at the moment, most of the fraud cases are related to investment or cryptocurrency trading.

She also stated that in 16 cases, assets were stolen after the transfer of the private key from the cryptocurrency wallet.

Recently, the Indian government decided not to ban cryptocurrencies, but to regulate the sector. According to the new rules, Indian crypto investors will be given a certain time to announce their crypto holdings, after which they will have to keep their assets on cryptocurrency exchanges regulated by SEBI.

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