I think it has to do with what happened to the PM's personal twitter account. Since, the investigation agencies couldn't find the hackers who did it. They had to show the PM office that they are taking some action. So, instead they froze accounts of some bitcoin traders. Problem solved.
This is how things are being done in India from quite a while now. Blame your mistake on something or someone and pretend to do something about it instead of actually doing anything.
Btw, here's the thread I started asking people to share their suggestions on how to go about doing P2P trading safely in India:
What are best practices when trading P2P? Check it out if you want and share your experiences of P2P trading and what precautions you take.
That's the bureaucratic nature of the government where one-exam-wonders are responsible for making policy decisions. I have been doing p2p trading since 2017 without any issue so far but looking at the number of cases, I am now very much skeptical to continue with that. Because in India, if any common man goes into any regulatory trouble, he goes into an endless suffering for an undefined period of time.
This is not happening recently/ or only when RBI restricted, this is happening too often and especially the one who send/ received money via paytm bank account which is more likely to be hacked and used to launder the money on p2p sites.
Bitrefill offers their service in India as well, so we can convert out bitcoin into vouchers and can redeem into our amazon and lot other services.
Full list:
https://www.bitrefill.com/buy/india/ecommerce/?hl=enThanks for the link. Have you ever used their service? I mean I am just trying to understand if they are genuine or not!