• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Nexo

Police in New Delhi Arrest Gang Robbing Bitcoin Buyers

Jeff Francis by Jeff Francis
5 years ago
in News, Bitcoin, News teaser
0
Advertisement

A group of six individuals in New Delhi, India, have been arrested by the police for robbing people that they had convinced were buying Bitcoin with actual cash.


Just when you think it’s safe to buy Bitcoin and other digital currencies, you hear horror stories about being robbed in some sort of online scam or Ponzi scheme. The decentralized nature of cryptocurrency means that those looking to get involved in it must do their due diligence and always be aware of potential risks. However, such situations are a far cry from what some people in New Delhi, India, experienced as they were robbed while attempting to buy Bitcoin from some unscrupulous people.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

What Can Go Wrong Buying Bitcoin with Cash from Strangers?

Police in New Delhi, India, arrested a gang of six individuals who had targeted people interested in buying Bitcoin. The leader of the group is Aditya Rajput, who is a law graduate from Dehradun. Overall, police recovered numerous SIM cards, eight mobile phones, jewelry, and lakhs of rupees in cash (lakhs are the equivalent of one hundred thousand rupees). A spokesman for the New Delhi police described how the crimes would go down thusly:

This module used to contact interested party through phone calls and Facebook messages and convinced the buyers to deal in cash for buying the Bitcoin. Once, they convinced the buyer and called them to the designated place, the other gang members would came into action…and…would then rob the victim.

So far, the police have identified seven victims of this Bitcoin robbery scam.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Bitcoin Rising in India

It’s understandable for individuals in India to be interested in Bitcoin. The economy was thrown into some turmoil last year when Prime Minister Narendra Modi decided to ban the two largest banknotes in the country to fight terrorism, corruption, and tax evaders. This move had a huge impact upon everyday life for Indians as the amount of money in circulation was drastically curtailed and the amount available to be withdrawn from ATMs was severely cut as well. This led to a noticeable increase in the use of Bitcoin and other cryptocurrencies. Bollywood has endorsed digital currencies, and the government is now actually considering issuing an official Indian cryptocurrency of its own.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

That being said, it does seem remarkably foolish to physically meet someone to trade cash for some Bitcoin. The person making the criminal complaint first wanted to purchase Bitcoin through a website but was lured to a meeting in a mall (from where he was then kidnapped) where he was supposed to be able to buy Bitcoin at the rate of roughly $1,100 USD per Bitcoin. One would say that getting a Bitcoin for a percentage of the current market rate would be a red flag. Having to meet someone in person while carrying at least a thousand dollars in cash to undertake the transaction should have thrown up some more red flags. However, greed often wins out, but at least those robbed did not suffer more dire consequences.

What do you think about the robberies of potential Bitcoin buyers in New Delhi, India? Would you meet with someone with a lot of cash under such circumstances? Let us know in the comments below.


Images courtesy of Wikimedia Commons, Flickr, and Bitcoinist archives.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jeff Francis

Jeff Francis

Related Posts

Anthony Scaramucci

Here’s Why Scaramucci Expects Bitcoin Price To Reach $300,000 Before 2030

12 hours ago
liquidations

Liquidations Cross $280 Million After Bitcoin Price Falls Below $25,000

18 hours ago
Bitcoin

Bitcoin Will Beat Gold As Store Of Value, MicroStrategy CEO Says

1 day ago
Crypto Corner: The Sports Slice

Crypto Corner: The Sports Slice

1 day ago
Bitcoin Miners Continue Distribution, Bad Sign For The Rally?

Bitcoin Miners Continue Distribution, Bad Sign For The Rally?

2 days ago
UNCTAD, document heading

UNCTAD Wants To Curb Crypto Adoption In Developing Countries. Of Course They Do

4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.