Indian police commissioner issues a public warning against crypto frauds

A woman wearing a hat Altcoin

Indian police commissioner issues a public warning against crypto frauds

On behalf of the Hyderabad City Police, Addl. Commissioner Shikha Goel asked Indian citizens to invest in crypto only through reputed and long-established players in this field.

The Additional Commissioner of Police Shikha Goel warned Indian citizens about the rise in cybercrime in an event hosted by the city police of Hyderabad, India, suggesting not to transfer cryptocurrencies to unauthorized private wallets.

Goel highlighted the various methods that are actively being used by fraudsters to dupe investors such as lucrative investment opportunities, illegitimate bank transfers and cryptocurrencies. Acknowledging the growth of Indian crypto users, Goel added:

As a fair warning to the Indian crypto investors, the commissioner said:

“Once you get cheated, it is a dead-end. Virtual money can never be traced back and returned to the original owner,” she concluded.

The state government of Telangana also leads India’s blockchain efforts as it launches India Blockchain Accelerator program to foster early-stage Web 2.0 and Web 3.0 startups and blockchain developers.

Speaking to Cointelegraph, Rama Devi Lanka, Telangana government’s director of emerging technology, shared her interest to use blockchain technology for solving real-world problems, adding:

“The Telangana government will help provide the required regulatory framework to enable and promote blockchain growth.”

Rate article
( No ratings yet )
FORECRYPTO