The Special Investigation Team (SIT) executed extensive raids across Himachal Pradesh, leading to the discovery of crucial evidence linked to the 2018 Korvio Coin cryptocurrency scam. Here's a brief overview:
Raids and Evidence: During 41 searches at various locations, the SIT seized documents, digital devices, and property records. This evidence sheds light on a significant ₹400 crore fraud, impacting roughly 100,000 victims.
Arrest and Key Player: Abhishek Sharma, the primary suspect, was apprehended and is believed to be the mastermind behind the scam.
Modus Operandi and Victims: Scammers utilized deceptive tactics, promising high returns to lure around 100,000 individuals. They employed sophisticated methods and manipulated approximately 2.5 lakh IDs.
Ongoing Investigation: Sharma's arrest has been pivotal in uncovering the inner workings of the scam. The hunt for another key suspect, Subhash, continues. Previous arrests and gathered evidence have played a crucial role in shaping the investigation's direction.
Wider Implications: The increase in cryptocurrency-related scams in India has prompted authorities to issue cautions against investing in volatile and unregulated schemes.
Conclusion: The Korvio Coin scam is a testament to the challenges posed in the digital age. It underlines the necessity for caution and prudence, despite the promising advancements in technology.
