PANews January 25th Report, according to India Today, the Indian law enforcement agency has arrested two individuals related to the BitConnect cryptocurrency scam case, which involves fraud, kidnapping, and extortion on a global scale, with the involved amount reaching thousands of bitcoins and tens of millions of rupees in cash. The arrested Nikunj Pravinbhai Bhatt and Sanjay Kotadia are suspected of participating in a kidnapping and extortion case, where the victim was forced to surrender 2254 bitcoins, 11,000 Litecoin, and approximately 1.45 billion rupees in cash. Some of the extorted bitcoins were converted into ETH and USDT and transferred through multiple wallets. The Indian law enforcement agency has frozen and seized assets worth about 1.9 billion rupees, including cryptocurrencies, stocks, and cash; as of now, the total seized or frozen assets in this case amount to approximately 217 billion rupees. The investigation is still ongoing.
The Indian law enforcement agency stated that BitConnect markets itself as a high-yield investment platform, claiming that its self-developed volatility trading robot can generate returns of up to 40% per month. The agency said these claims are purely fictitious, aimed at creating a false illusion of growth, including posting about 1% fake daily returns on its website.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ProCap Financial adds 450 Bitcoin to the purchase holdings
BlockBeats News, March 2nd, according to The Wall Street Journal, crypto investor Anthony Pompliano's publicly traded Bitcoin treasury company ProCap Financial is actively repurchasing shares to reduce the discount relative to net asset value, while also acquiring 450 new Bitcoins.
GateNews29m ago
ChatGPT Predicts the Price of XRP and Bitcoin If a U.S.–Iran Ceasefire Is Announced
Over the weekend, crypto Twitter exploded with warnings of World War 3. Traders were told everything could crash in days; stocks, crypto, bonds, even the dollar.
The logic is that if conflict in the Middle East escalates and the Strait of Hormuz gets disrupted, oil
CaptainAltcoin34m ago
Brazil-listed BTC treasury company OranjeBTC's total holdings reach 3,723 coins, with a total investment of approximately $392.34 million.
ChainCatcher News, according to market reports, the BTC treasury company listed in Brazil now holds a total of 3,723 Bitcoins, with a total investment of approximately $392.34 million. The average purchase price is $105,382.13 per Bitcoin. The company has achieved a cumulative Bitcoin return of 2.54%, with a Bitcoin return of 0.15% in the first quarter of 2026.
GateNews44m ago
Solana Price Faces Pressure as Global Tensions Rise: Sell Signal Adds to Market Anxiety - BTC Hunts
The post Solana Price Faces Pressure as Global Tensions Rise: Sell Signal Adds to Market Anxiety appeared first on Coinpedia Fintech News
Amid escalating geopolitical tensions in the Middle East and broader risk-off sentiment across crypto markets, the Solana price is once again under
BTCHUNTS58m ago
