Indian police have launched an investigation into the activities of the fraudulent cryptocurrency trading app Datameer, in which at least 700 locals lost funds totaling 10 million rupees ($119,000).
According to complaints received by the police, the creators of the Datameer crypto scheme promised investors a profit of up to 50%. However, shortly after investors transferred money through the app, it shut down and the scammers disappeared.
The Datameer service appeared in April 2024 and worked for only five months, but during this period, the scammers were able to raise $119,000. According to the results of the preliminary investigation, the creators of the fraudulent application were "scattered" throughout the country, and some of them have connections in Hong Kong.
"The attackers lured gullible people through social media and encouraged them to invest in a cryptocurrency scheme, guaranteeing huge profits in a short time. Scammers are capitalizing on the growing interest in cryptocurrencies in an attempt to cash in on gullible users. We are collaborating with cybersecurity experts across the country to investigate this case", the local police said.
In March, Indian law enforcement officers accused 299 organizations, including individuals of Chinese origin, of violating anti-money laundering laws. The prosecutor's office claims that these firms were associated with the HPZ Token mobile app, which also deceived investors — they were promised high profits from cryptocurrency mining.
The police reported another incident. Cryptocurrency scammers deceived a doctor from India, persuading him to transfer them $35,000 along with medicines in a parcel. The stolen funds were sent to several bank accounts and then converted into cryptocurrencies and transferred to accounts in China and Taiwan.
According to complaints received by the police, the creators of the Datameer crypto scheme promised investors a profit of up to 50%. However, shortly after investors transferred money through the app, it shut down and the scammers disappeared.
The Datameer service appeared in April 2024 and worked for only five months, but during this period, the scammers were able to raise $119,000. According to the results of the preliminary investigation, the creators of the fraudulent application were "scattered" throughout the country, and some of them have connections in Hong Kong.
"The attackers lured gullible people through social media and encouraged them to invest in a cryptocurrency scheme, guaranteeing huge profits in a short time. Scammers are capitalizing on the growing interest in cryptocurrencies in an attempt to cash in on gullible users. We are collaborating with cybersecurity experts across the country to investigate this case", the local police said.
In March, Indian law enforcement officers accused 299 organizations, including individuals of Chinese origin, of violating anti-money laundering laws. The prosecutor's office claims that these firms were associated with the HPZ Token mobile app, which also deceived investors — they were promised high profits from cryptocurrency mining.
The police reported another incident. Cryptocurrency scammers deceived a doctor from India, persuading him to transfer them $35,000 along with medicines in a parcel. The stolen funds were sent to several bank accounts and then converted into cryptocurrencies and transferred to accounts in China and Taiwan.
