Ludhiana Man Arrested for Massive Cryptocurrency Fraud
Nitin Sharma from Ludhiana was apprehended for allegedly scamming a Delhi resident of over Rs 31 lakh through a fake cryptocurrency platform called 'BitBank'. The cybercrime appears to have international links with activities in Cambodia. Sharma posed as an executive, leading victims to invest in fake shares.
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A Ludhiana man, Nitin Sharma, has been arrested for allegedly committing a massive cryptocurrency fraud, duping a Delhi resident of more than Rs 31 lakh. The accused used a fake trading platform called 'BitBank' to lure his victim into investing, police revealed on Monday.
Sharma posed as a BitBank executive and promised high returns through fake shares and IPOs. The fraudulent activities involved multiple mobile numbers traced to Cambodia, indicating an international angle to this cybercrime.
Law enforcement seized several high-tech mobiles, uncovering incriminating chats and transaction records. Sharma, a local businessman, is in police custody, with further investigations ongoing to dismantle the wider network.
(With inputs from agencies.)
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