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Cryptocurrency Scheme 2022 awareness about cryptocurrency in India Despite unclear law and order and smooth crypto law, people in India are getting fascinated by cryptocurrency, and falling prey to cryptocurrency scheme.

Cryptocurrency Scheme are becoming increasingly popular in India. On May 29, Mumbai’s Malwar Hill resident was duped by Jalsajo of Rs 1.53 crore by promising good returns on investment in cryptocurrency through a fake website.

On May 27, the Mumbai Police arrested a 23-year-old youth for duping investors of Rs 1.5 crore after being advised to invest money in cryptocurrency.


In June also another person had a cryptocurrency scheme in the loss of 50 lakh rupees in addition to the deposit amount.

Cryptocurrency Scheme is becoming increasingly popular.

Cryptocurrency schemes are becoming increasingly popular, common investors with all the elements that give the upper hand to scammers, any bank suspicious transactions, irreversible transfers and fraudulent investors who are generally unaware of how crypto transactions work.

How do scammers cheat?

In order to cheat scammers, scammers develop fake crypto wallets from fake cryptocurrency trending sites or Vaidya crypto wallets. These fake websites are often named as real websites. Which are similar yet different from the sites they try to imitate.

CloudSeek founder and CEO Rahul Sasi has said that they look very similar to authentic websites, which makes it difficult to differentiate between them.

cryptocurrency scheme

CloudSeek also disclosed the ongoing operations involving several phishing websites and android based applications. This massive campaign traps unknown persons in a big gambling scam.

Many of these fake websites impersonate Coin Egg.

Rahul Sasi said, “Our guess is that the actors who threatened Cryptocurrency SchemeThrough this, the victims have been duped up to 1000 crores rupees.

also read: Advertisement Standards Council of India (ASCI) is mandatory to state High Risk in Cryptocurrency Ads from 1st April 2022.,

How do crypto currency investment scams work?

Fake cryptocurrency websites usually work in one of these ways.

Via emailScammers send an email to entice investors to visit a specially designed website where they are asked to provide private key information. As soon as hackers get this information, the bitcoins in those wallets are stolen.

By way of giving little benefit to the investors:-

FRAUD Button on Computer Keyboard

What Cryptocurrency Schemes mainly do is they allow you to take some profit at first. It then prompts investors to invest extra money as their earlier investment pays well, however when you want to withdraw your money later, the site either shuts down, or does not accept the request.

Through fake app:-

One of the most popular ways to trick investors is with fake apps available for download, although these fake apps are quickly found and removed.

This does not mean that investors will not be able to fall prey to fraud. People download fake cryptocurrency apps daily and fall prey to fraud.

Professor Triveni Singh, Superintendent Cyber ​​Crime, Uttar Pradesh has said that Cryptocurrency Schemes are always on the lookout to cheat new investors. Fake crypto mining, creating fake wallets, fake exchanges, scammers keep inventing new ways to rob people. Not only this, they also hack the entire legitimate crypto exchange.

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