India News | Nagpur: 7 Cheated of Rs 4.68 Cr by Cryptocurrency Fraudsters

Nagpur, Jan 25 (PTI) Seven persons have been cheated of Rs 4,68 crore in a cryptocurrency fraud in Nagpur in Maharashtra, police said on Tuesday.

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The five accused who were running this racket, in which investors were promised high returns, have been identified as Mohd Habib Mohd Hanif (39) from Karnataka, Mohd Abbas Mohd Yusuf (34) from Punjab, Begum Junaidi Moahhad Sheikh, Ahmed Sheikh and Burhan Sheikh, a Sonegaon police station official said.

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"They lured people to invest in Korbit cryptocoin by holding meetings with investors in a plush hotel here between March 5 last year and January 4. Against an investment of Rs 6.58 crore, the accused returned only 1.89 crore," he said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)