$300 Million Crypto Scam in India.

[Kasabus]

Where did it happen? Ohhh in India? The country which is famous for scamming other people. I don't want to generalize the country as a whole, but many Indians are scammers. Well, I guess I'm watching Youtube channels who are baiting, and hacking those Indians scammers too much that I think of the whole country as scammers.

TBH, since I've seen many Youtube videos that is exposing Indian scammers, I didn't surprised that they can make a scam this huge.

We've probably watched the same video, mate, LOL... And yeah, there are lots of scams in India, but it happens in other countries too. These scams typically occur in poor countries, but they say India is a rich country with poor people.

Government official getting involved? I'm not even surprised that they are involved TBH. Most of the government officials are corrupt, and include also the fact that they have the power. Authorities, and those who have knowledge in crypto are milking those newbies and those who are financially illiterate. Kind of sad, but that's how the world is. Some will go up, some will go down.

Overall, nothing surprising especially it's the Indians who are perpetrators in this crypto scam. I just hope that those who got scammed will learn on this mistake.

There are other countries with reported crypto scams as well, like in the Philippines, but I haven't heard any news about government officials or the National Police being part of the scams. This news is quite alarming because the involvement of officials suggests that law enforcers at higher ranks may have benefited from this before it was exposed.

[bluebit25]

Fraud in crypto through the form of calling for investment is an unethical behavior, knowledgeable people take advantage of it and take advantage of people's trust, as well as evoking human greed.
But I also need to be fair here because from any angle, both the victim and the victim need their own punishment frames to be more of a warning. Popularizing awareness is necessary, but usually the churn of this market is very large, new people come in the short term, and they easily mistakenly think everything brings an opportunity to increase their assets. Only to collect money and realize that it is the price for a program to learn about knowledge and experience, everywhere there are good/bad people, and especially in today's age when information is spread on social networks easily accessible, so we need to be even more vigilant.

[Bushdark]

Crypto scam had been I existence for a very long time and we should be surprised if we see that coming often. Although it might be very difficult for us to know what coin is going to be a rug pull but it is important for us to stay safe than keeping on money on an investment because of the high promises it tend to offer customers. Crypto market is big and we should have the discipline of selecting what coin we want to put our money into. The market is full of scammers and hackers we need need to be prepared and stay away from projects that would run away with customers funds.

[Nrcewker]

We can’t stop scammers. Today they took the help of cryptos, tomorrow there will be something else. So we can’t blame here the medium that is used for scamming. Rather the scammers should be the only responsible. Now if Indian government starts banning cryptos due to such scams, then they are killing their own growth for the people. I remember at that time ICOs and IEOs were at peak. So many people invested in those and later got trapped in the scams.

[ultrloa]

Government official getting involved? I'm not even surprised that they are involved TBH. Most of the government officials are corrupt, and include also the fact that they have the power. Authorities, and those who have knowledge in crypto are milking those newbies and those who are financially illiterate. Kind of sad, but that's how the world is. Some will go up, some will go down.

Overall, nothing surprising especially it's the Indians who are perpetrators in this crypto scam. I just hope that those who got scammed will learn on this mistake.

There are other countries with reported crypto scams as well, like in the Philippines, but I haven't heard any news about government officials or the National Police being part of the scams. This news is quite alarming because the involvement of officials suggests that law enforcers at higher ranks may have benefited from this before it was exposed.

Its seems the one operate in each country are well organized syndicate because they really know how to organize their scams and also know how to deceive people even if they do a repetitive method. Its hard to point out that there are some officials are involve with this scam since we need evidence to point out and its hard to spread or believe on just a hearsay since we might put at huge danger with that. Although its really alarming if they are really involve with those scams since we don't know if who will protect the citizens since those officials are supposed to be protecting his people but its unfortunate that there's a rumors of their involvement. Best for this is to have proper knowledge and if there's news about scamming happen maybe its best for people to digest the news they see its because this schemes is always been used by those scammers so that they would not get deceive by any bad entities.

People need to be vigilant on their investment and they need to know that even if those people show some money our other luxurious it doesn't mean they are legit most of them trying to lure them so that they will be their potential victim of their scams.

[Adbitco]

What we must know about cryptocurrency scam it's not restricted or limited to any country as we may know, basically when it comes of investment especially altcoin we should be very mindful because a no body's can arise to come form a project with fake identity pretending to be people they aren't, after which people invested they easily exit from the market leaving an empty project to people around. One thing that gets me offset is that scammers always get a targeted area which they want to scammed just as they created a token specifically for indians, and this type of scam often happens when it's next to bullrun and they would want to utilized such opportunity to scam people in the name of utilizing halving.

[justdimin]

I think that even when a certain country is regulating crypto, crypto education remains crucial. The truth is, it's not limited to that country; even here in the Philippines, we're dealing with a surge of crypto scams. While what happened is absolutely unacceptable, hopefully, it will teach people to stay vigilant against investment scams in the crypto world. The coin they're talking about here is KRO Coins or Korvio Coin. I checked it on CoinMarketCap and it's not listed there. So, it seems these scams mainly target Indians since it's only recognized as a local cryptocurrency.

It may be hard to believe that criminals are only getting nabbed lately but at least they get nabbed, right? And that is something better than not getting nabbed at all. I think that is because there are no strong regulations back in time, so criminals are free to roam around. Regulation depends on the government but I won't say they mean it to not regulate crypto and help the criminals.

It's just that crypto was still kinda a new thing before and many governments still hates it, or skeptical if they will adopt it or not. Crypto is not country-specific since it is a digital currency, so all people who are involved with it are in great threat or exposed to the scams and hacks that can possibly happen at any times. This is why it's important to stay updated and take extra preventive measures.