According to ChainCatcher, three former Indian soldiers reported to the Chandan Nagar police in Pune, accusing eight officials of a trading company of defrauding them of more than 7.981 million rupees (about 96,000 US dollars) through a cryptocurrency scam since 2022. The three invested their retirement savings in the project because they were promised to double their profits in 20 months and a 10% return per month.

The company's directors and a former soldier involved in the case were previously arrested in similar cases and are currently detained in Yerawada Prison. The police are waiting for court approval for further questioning. Earlier this year, the company held a digital currency seminar in Maharashtra, attracting many people to invest.