Indian Police Arrest Two For Alleged Involvement in $12M Crypto Scam

Police in the Indian state of Maharashtra have arrested two people for allegedly running a crypto scam thought to have scammed more than 1,400 investors of between $6 million and $12 million.

The police arrested Ritesh Dilip Kumar Sikligar, alias Pancha, and Mohan Patil, an agent who lured customers from around the country into the scheme.

So far 24 investors have said they’ve lost a total of 4.4 million rupees. The investigating officer said the police expects the number to rise as more people come forward.

The scheme lured investors with promises of massive rates of return.

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