4 and a half years after the collapse of BitConnect, a sufferer has filed a prison report in India.
The sufferer, a lawyer from Pune, Maharashtra, claimed to have misplaced near 220 bitcoin.
The present avenue worth of 220 BTC is round $5 million USD. In line with the assertion, 54 BTC represents an preliminary funding.
The remaining 166 BTC are nonexistent Ponzi returns. It’s unclear why this has not been delivered to the lawyer’s consideration. Tuesday, Pune police filed a First Info Report in opposition to Satish Kumbhani, the creator of BitConnect.
In line with the Indian Categorical, The suspects and the grievance engaged in transactions between 2016 and June 2021.
Within the absence of any arrests, a hunt for the culprits has been initiated. Officers acknowledged that they can even examine whether or not the identical group of suspects defrauded different people in the identical method.
After investigating the matter, authorities in Pune found that Kumbhani had already been indicted in the US.
In line with Senior Inspector DS Hake of the Cyber Crime Police Station of the Pune police, the grievance was lodged on Tuesday night time and an investigation into the main points offered by the complainant has been initiated.
I have no idea why Indian authorities haven’t filed their very own federal lawsuit in opposition to BitConnect, a multibillion-dollar Ponzi fraud. Kumbhani continues to evade seize.
It’s suspected that he’s hiding in India or Dubai.