Karma or Overkill?
Scams in the world of cryptocurrencies can take many different forms. Some are phishing scams, others fake giveaways, and even Bitcoin QR's are no longer safe. Scammers are becoming more and more creative as time goes by. Luckily, some of the scammers get to see justice in one way or another.
Recently a bizarre case in India unfolded regarding a wide-scale Bitcoin scams.
Karma or Overkill?
As reported previously by the Times of India, A horribly beaten man was dumped by 5 individuals at a hospital. The man was left by the entrance to the emergency ward of a private hospital in Dehradun, India. He was identified to be Abdul Shakoor, a 35 year old man who later died while in care.
Shakoor's death led to a prompt investigation by the local police department. This led to the arrests of 5 individuals: Faris Mamnoon, Arvind C, Asif Ali, Sufail Mukhtar and Aftab Mohammad. These individuals are now under arrest & awaiting trial.
Under police investigation, the true nature of the crime was revealed. It appears that Shakoor was the head of a large-scale crypto scam and the men who beat him to death, his business partners. Shakoor allegedly scammed not only investors across India, but also his business partners.
Shakoor promised investors a high return on investment in return for Bitcoin. He managed to bring in the equivalent of $65 M USD. He and his gang told investors that his wallet has been hacked could not recover the investment. They were forced to change locations several times afterwards.
Apparently, investors weren't the only people who were scammed by Shakoor. He was later beaten severely and tortured by his co-conspirers in an attempt of theirs to get his private key. Apparently, none were paid for their efforts. This beating later lead to Shakoor's untimely death.
Let's hope the investors at least get their funds recovered.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado