Indian cryptocurrency platform Pluto Exchange is accused of defrauding 43 investors and stealing over $ 272,000 of their digital assets.
According to local media reports, the Delhi Police Department of Economic Crimes has received complaints from 43 investors accusing Pluto Exchange leaders of fraud and creating a cryptocurrency pyramid. Deceived users claim that Pluto Exchange founder Bharat Verma, along with other organizers of the investment scheme, attracted investors by making false statements. The project was positioned as a cryptocurrency trading and mining platform, and was managed by F2poolminin.
Investor Joginder Kumar said the founders of Pluto Exchange promised him a 20-30% monthly return on investment and an additional commission for attracting new members. According to Kumar, he invested $ 6,500 in the project, but never made any profit.
The owner of the platform says that this situation happened due to a sharp decline in the bitcoin rate and the seizure of the firm’s bank accounts. For these reasons, Pluto Exchange was unable to return funds to investors. However, Kumar said that the site later “moved” from India to Dubai, and the head of the firm raised more than $ 6.8 million to conduct a cryptocurrency business in the UAE.
According to analyst firm CipherTrace, last year the total volume of fraud and theft kriptoaktivov with them increased by 160% and reached $ 4.5 billion. In order to keep the activity kriptovalyutnyh criminals, Chainalysis proposed to tighten control on the part of the exchanges, as well as regulatory and law enforcement agencies. Otherwise, the actions of fraudsters may adversely affect the development of the industry.