Deputy Police Commissioner Shikha Goel warned Indian citizens of the rise in cybercrime at a rally organized by the Hyderabad, India city police, suggesting not to transfer cryptocurrencies to unauthorized private wallets.
Goel highlighted the various methods that scammers actively use to dupe investors, such as lucrative investment opportunities, illegitimate wire transfers, and cryptocurrencies. Recognizing the growth of Indian cryptocurrency users, Goel added:
“They [los estafadores] They ask you to share the data of your cryptocurrencies. And once you put them in your wallet, they take your money. “
After simplifying the elaborate fraud into one sentence, Goel also noted that sixteen such cryptocurrency-related cases have been recorded.
Do not transfer your cryptocurrency to unauthorized private wallets
Dont fall prey to fraudsters #BeCyberSmart pic.twitter.com/eJOwsnLSmX– Shikha Goel, IPS (@AddlCPCrimesHyd) December 26, 2021
As a warning to Indian crypto investors, the commissioner added:
“If you are going to use or invest in cryptocurrencies, please only go to reputable and long-standing players in this space.”
In an interview with The Hindu, Goel revealed that 14 of the 16 cryptocurrency fraud cases were directly related to investing and trading. Typically, scammers convince victims to transfer their newly purchased cryptocurrencies for more profit, which according to Goel:
“People have been duped by 3.45 crore rupees (approximately $ 458,000) into their greed for higher returns on investing in cryptocurrencies.”
DIAL 155260 to report financial cyber fraud like OTP, UPI or any other cyber crime where you have lost money
And yes do not delay in informing
If you inform us on time on this helpline chances of retrieving the amount are high #BeCyberSmart pic.twitter.com/HgXF34h2ko– Shikha Goel, IPS (@AddlCPCrimesHyd) December 26, 2021
Dial 155260 to report financial fraud like OTP, UPI, or any other cybercrime where you have lost money.
And yes, do not delay in reporting.
If you inform us in time on this helpline, the chances of getting your money back are high.
“Once you get scammed, it is a dead end. Virtual money can never be traced and returned to the original owner,” he concluded.
The Telangana state government is also leading India’s blockchain efforts, launching the India Blockchain Accelerator program to foster early-stage Web 2.0 and Web 3.0 companies and blockchain developers.
Speaking to Cointelegraph, Rama Devi Lanka, director of emerging technology for the Telangana government, shared her interest in using Blockchain technology to solve real-world problems, adding:
“The government of Telangana will help provide the regulatory framework required to enable and promote the growth of Blockchain technology.”