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Bitcoin Company in Jammu and Kashmir Booked for Duping People

The Crime Branch received a complaint from some people that a representative of a company, GainBitcoin, approached them and asked them to invest their Bitcoins in the company, promising a 180-per-cent return in 18 months.

PTI

Updated:December 23, 2018, 11:51 AM IST
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Bitcoin Company in Jammu and Kashmir Booked for Duping People
Picture for representation.
Srinagar: A case has been registered against a private company in Jammu and Kashmir on Saturday for allegedly duping people after asking them to invest their cryptocurrencies in their company, police said.

The Crime Branch received a complaint from some people that a representative of a company, GainBitcoin, approached them and asked them to invest their Bitcoins in the company, promising a 180-per-cent return in 18 months, a spokesperson said.

The complainants invested the Bitcoins, but the company failed to repay what they had promised, the spokesperson said.

A preliminary investigation the complainants opened a digital wallet as advised by the company for crediting the assured amount. The accounts of the complainants were credited by the company with the condition that the amount cannot be withdrawn for a period of six months, he said.

"After the expiry of six months, when the time of withdrawal commenced, the company crashed these wallet accounts and also crashed those websites," the spokesperson said.

The accused have been booked under relevant sections, he added.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
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