Crypto-Trade Alert (!).
Bureau,Odishabarta
Bhubaneswar,19/07/23:During the investigation of EOW case19/2023 related to Online Ponzi Apps scam (using morphed photographs of celebrities like Amitabh Bachhan, Ratan Tata, Mukesh Ambani,
Sachin Tendulkar etc. / previous Press Note attached) it was noticed that some “Indian Whatsapp number” operated from China are being used to lure the Indian Crypto traders to sell the crypto currency worth hundreds of Crores rupees to the scammers sitting outside India.
These China based scammers usually offer higher/ lucrative rates (compared to market rates) to lure Indian crypto traders.
These scammers generally meet them on various crypto exchange platforms and establish one to one link to make the deal.
However these scammers prefer P2P deal (Peer to Peer deal) instead of exchange based
deal.
Mostly crypto traders (who are interested in better deal) are not aware of the criminal/ fraud antecedent of the other party.
Once the deal is struck, the scammers transfer the money from their India based shell companies/ enterprises’ bank account to crypto-traders and in turn Crypto-traders transfer the Crypto currencies to scammer’s account. Thus money is siphoned out of India.
Advisory to Crypto-Traders
Crypto-traders must verify the antecedent of crypto buyers especially when the amount is huge.
Crypto traders must check the details of company to check whether it’s a genuine or shell company.
Generally these shell companies’ are newly created having very low authorized and paid up capitals.
If they are offered higher/ better rate then prevailing market rate, it should be seen suspiciously.
They should avoid P2P trade with suspicious buyers.
While chatting on WhatsApp they should insist on video chat so that they can see the person on other side.
In case of any suspicion, they should report the matter to police/112/1930.
Previous Cases (Dated 05.07.2023)
EOW CONTINUES TO CRACKDOWN AGAINST ONLINE PONZI SCHEMES/ EARNING APPS BEING PROMOTED USING MORPHED PHOTOS OF CELEBRITIES
EOW Odisha has further frozen around Rs 75 lakh of 14 different bank accounts across India in a crackdown against the multiple online Ponzi ( MLM Schemes). Earlier EOW had frozen Rs 1.22 Crore in similar schemes/ Apps.
There are multiple illegal Apps and websites available on internet which misleads people by running advertisement to multiply money within few days/ months but after few months these Apps close its
operation/ Websites/ Apps.
These bank accounts were linked to Apps like Dice, Quickwrummy, Fly Aviator,
Weonlinepro Three, MVP trader,Ft11,UNO, ForexDana, Live 22 cash, Aviator X, City5,Homer Alexander etc. Together these Apps had 1.56 Crore + downloads. This refers to EOW case no 19/2023.
In the fresh cases, it was found that these scammers are using the morphed
photographs of big celebrities like Amitabh Bachhan, Mukesh Ambani, Ratan Tata,Sachin Tendukar, Technical Guruji ( famous You Tuber) etc., They also use the logo of big company like Tata to mislead/ impress people on various social media platform like instagram, YouTube etc.
Earlier it was found that an App “Join trade- Financial growth” was using the morphed Pictures of leading Bollywood actors like Akshay Kumar and Manish Paul, in order to mislead and instill trust in the Public.
It was also found that there are some so called social media influencers who use their accounts to promote these Apps/ scheme. Some TV stars/ small celebrities were found to be endorsing such social media influencers and their advice related to making quick money through these Online Ponzi Apps.
Most of the victims are from lower middle class including many students wishing to become rich in a very short span of time using these shortcuts.
it came to surface that the amount can only be deposited through UPI’ID’s reflected in the APP which keeps changing constantly each minute and such ID’s were linked to savings Bank and current accounts maintained in the name of many shell companies / firms and individual persons.
The total transactions in the above suspected bank accounts are of more than 1000 Crores. However it is suspected that these accounts/ networking are also used in other cyber/financial crimes related to Online Ponzi Schemes, Illegal digital Loan Apps, Courier Scam, Sextortion, Work from home scam, YouTube liking scam, Rating scam etc.
It has been noticed that these money are routed through very complex multi layering of various mule accounts and finally money is transferred out of India using Crypto trade.
Most of these scams are operated from or have links in Dubai, UAE.
Advisory to people-
1. Please don’t use these illegal earning Apps/ scheme. These Apps are created and
operated by Cyber-Financial scammers. Even if you initially get some money back
ultimately you will lose huge money.
2. Please do not refer/ forward the links to your friend/ relatives. You might get
some referral bonus but in the end, both you and your friends will lose huge
amount of money.
3. It is quite possible that this money is being used in other cyber-crime and antinational
activities. Please stay away from such Apps/ schemes.
4. Never ever allow your bank accounts to be used/ controlled by others.
Advisory to Social media influencers-
1. Don’t promote such illegal earning Apps/ schemes directly or indirectly.
Advisory to Celebrities-
1. Don’t use your influence to promote such Apps/ schemes by recommending
people to such social media influencers who promotes these illegal Apps/
schemes.
