Indian police commissioner issues a public warning against crypto frauds

In an event hosted by the city police of Hyderabad, India, the additional commissioner of police, Shikha Goel, warned Indian citizens about the rise in cybercrime and suggested they avoid transfering cryptocurrencies to unauthorized private wallets.Goel highlighted the various methods actively being used by fraudsters to dupe investors, such as lucrative investment opportunities, illegitimate bank transfers and cryptocurrencies. Acknowledging the growth of Indian crypto users, Goel added:After simplifying the elaborate fraud in a sentence, Goel also highlighted that sixteen such cases involving cryptocurrencies have been registered.Do not transfer your cryptocurrency to unauthorised private wallets
Dont fall prey to fraudsters #BeCyberSmart a fair warning to the Indian crypto investors, the commissioner said:In an interview with The Hindu, Goel revealed that 14 out of the 16 crypto fraud cases were directly related to investment and trading. Typically, the fraudsters convince the victims to transfer their newly purchased cryptocurrencies for higher profits, which according to Goel:DIAL 155260 to report financial cyber fraud like OTP , UPI or any other cyber crime where you have lost money
And yes do not delay in informing
If you inform us on time on this helpline chances of retrieving the amount are high #BeCyberSmart“Once you get cheated, it is a dead-end. Virtual money can never be traced back and returned to the original owner,” she concluded.Related: Indian state government to accredit Web 2.0 and Web 3.0 blockchain startupsThe state government of Telangana also leads India’s blockchain efforts as it launches the India Blockchain Accelerator program to foster early-stage Web 2.0 and Web 3.0 startups, and blockchain developers. Speaking to Cointelegraph, Rama Devi Lanka, Telangana government’s director of emerging technology, shared her interest in using blockchain technology to solve real-world problems, adding:

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