Massive pan-India cryptocurrency fraud uncovered; Puducherry police arrest two, search for more suspects

PUDUCHERRY: The Cyber Crime Police Station (CCPS) in Puducherry has uncovered a large-scale pan-India fraudulent cryptocurrency scheme that duped 11 investors in Puducherry of about Rs 3.4 crore and targeted many others in different states. Two people have been arrested in connection with the case.

The accused lured victims with promises of high returns on investments but later prevented them from withdrawing their funds or receiving the cryptocurrency TCX, which was later found to be fake, according to a police release.