Crypto Con Artist Busted: Indian Force Nabs Scammer in $148M Scheme
In a significant development in the world of digital currency, the Indian Enforcement Directorate (ED) has taken decisive action by arresting Shailesh Babulal Bhatt, a resident of Gujarat, for his involvement in a massive cryptocurrency extortion scheme This case, valued at more than Rs 1,200 crore (approximately $148 million), underscores the intricate challenges and legal intricacies surrounding the burgeoning cryptocurrency sector A Glimpse Into the crypto Extortion Scheme The focal point of this case revolves around Bhatt's alleged extortion of an immense sum of digital currency, including 2,091 Bitcoins and 11,000 LiteCoins, in addition to Rs 14 50 crore in cash This extortion was levied against employees of Bitconnect coin promoter Satish Kumbhani, revealing a complex web of investments, betrayal, and illegal activities within the crypto domain...
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