The cybercrime unit of Delhi Police in India has <a href="https://in.news.yahoo.com/delhi-police-arrests-42-people-101522073.html" target="_blank" rel="nofollow noopener">reportedly</a> arrested 96 people for running fake call centres to extort Bitcoin from foreigners. The scammers posed as personnel from various law enforcement agencies to scam innocent victims saying their bank accounts were used for illegal transactions. They were also threatened with immediate arrest if they don't transfer Bitcoins and gift cards as an alternative dispute resolution.
<h2>Indian Police Arrest Bitcoin Extortion Scammers</h2>
As per local media reports, 54 people were arrested in west Delhi’s Moti Nagar area, while another 42 were arrested in the Peeragarhi area. The illegal call centre in Moti Nagar was reportedly managed from Dubai while scamming more than 4,500 people of about Rs 100 crore.

The victims received calls from the fake call centres saying that their bank accounts were used for <a href="https://www.cryptoknowmics.com/news/bitbay-warns-its-customers-against-growing-telecaller-scam/">illegal transactions</a> to fund cartels in Mexico and Colombia. They would then be threatened with immediate arrest and that their bank accounts and other assets being frozen.

The accused gave the victims either to take legal action i.e. follow their arrest and account freezing or accept an alternative dispute resolution. The scammers assured victims that accepting the dispute resolution will be much faster and hassle-free.

The victims were then told that the only way to stop their accounts from being frozen was to buy bitcoins or gift cards with all the money in their <a href="https://www.cryptoknowmics.com/news/some-indian-banks-still-declining-to-process-crypto-transactions/">bank accounts</a>.

They would then be asked to convert all of their bank funds into Bitcoins and transfer them to wallets controlled by the call centres. The victims were assured that the wallets belonged to safe government wallets.
<h2>Gift Card Extortion Is Also Part of the Racket</h2>
The victims were also given another option other than Bitcoin, i.e. to buy gift cards. The scammers induced them to share their gift card number saying it would be linked to their new safe bank accounts.

During interrogation, the accused disclosed foreign nationals, including American citizens were contacted under their fake schemes. The accused posed as law enforcement officers such as the U.S. Social Security Administration, the U.S. Drug Enforcement Administration, and the U.S. Marshals Service.

Indian Police Arrests 96 People Running Bitcoin Extortion Rackets

Cybercrime unit of Police in India has busted extortion rackets and arrested 96 people for running fake call centres to extort Bitcoin from foreigners.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Indian Police Arrests 96 People Running Bitcoin Extortion Rackets

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