Another Bitcoin Controversy in India

Here is another latest Bitcoin news  from UP,India.  Sandeep Chaturvedi, assumed name Bunty, an infamous criminal who has the disease and is purportedly rationally shaky, was captured on Wednesday on the charge of plundering Bitcoins worth about INR 25 lakh from a nearby agent at gunpoint in UP. The wrongdoing was submitted on April 6.

SP Sanjiv Tyagi (Auraiya) said much like the disease stricken over the top foe in Saw, Bunty has lost his brain and taken to perpetrating violations. The SP educated that Bunty, in his mid-40s, has 30-31 bodies of evidence against him. The rundown of his violations incorporates attack and murder allegations.

A couple of months back, in any case, he chose to carry out a wrongdoing of an alternate kind — he chose to loot Bitcoins from a neighborhood broker.

His casualty, Rajesh Kumar Nishad, additionally hails from Auraiya town, yet has been living in Agra for as far back as eight years. Nishad, 27, revealed that he had begun the Bitcoin business a few years back with INR 50, 000, purchasing and offering Bitcoins on Zebpay. He contributed his mother’s and family’s funds also, immediately after he started profiting. He said he was making great profits until the point that Bunty denied him of all his Bitcoins.

In January, a shared colleague acquainted Nishad with Bunty. Nishad had no clue about Bunty’s criminal predecessors or his mental precariousness. On the night of April 6, Bunty asked for Nishad to explain what is Bitcoins to him. The clueless representative headed toward culprit’s home, and was demonstrating to him how Bitcoin exchanging deals on his cell phone when Bunty snatched his mobile.

Nishad told that Bunty showed him video clips of him beating up, stripping and assaulting people and intimidated him into sharing the password of his Bitcoin account. Bunty bragged to Nishad that he has a long list of cases against him, including murder charges, and the police wouldn’t be able to do anything.

Fearing for his life, Nishad acquiesced to his demands and transferred all his Bitcoins to Bunty’s Bitcoin wallet. Nishad had earlier told Bunty that his mother too has a Bitcoin wallet, and Bunty got him to call his mother and get her password as well, so he could transfer the Bitcoins from her account to his.

Nishad said Bunty just required the passwords, as he unquestionably knew about the procedures of executing the trades. Even, the culprit had a Zebpay account arranged for the reason.  Zebpay is one of the leading Bitcoin exchange and wallet provider in India.

He said days after the occurrence, he begged Bunty to show leniency toward him, yet without any result but he didn’t listened to him  and said to him that it is a waste of time as this arguing has no impact on him.

It was just on May 31 that the police at last enlisted a case, while the victim detailed the issue to the police not long after he was looted.

Bitcoin Scams in India

This is not the first time that a controversy arosed due to Bitcoins. In past various cases came in where the accused were using Bitcoins as source of ransome due to it’s untraceable feature.

->Wipro, the IT Giant was threatened in the month of May. The company received an email in which the sender had threatened to use Ricin, a susbtance which is known to have fatal error facts if ingested, inhaled or injected. The attacker  mentioned in the email that he would use Ricin in the food served at the company’s cafeteria, and will desperse it using a flying drone.

The sender demanded Bitcoins worth INR 500 Crores and mentioned the wallert address on which the Bitcoins were required to be transferred. (Click here to read full article)

-> Four persons in just 49 days hacked the Unified Payments Interface (UPI) app of Bank of Maharashtra (BoM) and successfully withdrew Rs 6.14 crore (approx $1 million) from several accounts of 23 branches in Pune district, and invested the amount in Bitcoins .The investment in Bitcoin was made through three companies based in Ahmedabad, Gujrat.

The Bank Of Maharashtra then filed an application in the court and demanded an action against Bitcoin Companies. Due to that case, Zebpay’s (one of the accused bitcoin company) bank account got freezed. (Click here to read more details) posts latest news and updates about Bitcoins, Cryptocurrencies, Blockchain Technology and upcoming ICO’s.

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