Business odisha

Odisha Police Cracks Down on ₹200 Crore Crypto-Ponzi Scam; Three Masterminds Apprehended

In a thrilling turn of events, the Odisha Police has unraveled a jaw-dropping cryptocurrency pyramid scheme, rocking the nation with its audacious scale and fraudulent activities. With over ₹200 crores at stake, this eye-opening revelation has shed light on the dark underbelly of the crypto world.

According to an official statement released on Friday, the Economic Offence Wing (EOW) of the Odisha Police has exposed a massive scam that has left approximately 2.5 lakh people from eight states reeling in financial distress. Promising extraordinary returns in record time, the scam capitalized on people’s dreams of fast wealth, ultimately swindling them out of their hard-earned money.

The intricate scam, run by the notorious ‘Yes World Crypto Token’ company, preyed upon unsuspecting investors in Punjab, Rajasthan, Odisha, West Bengal, Haryana, Gujarat, Bihar, and Jharkhand. With a web of deceit woven so cleverly, it managed to convince over 2.5 lakh individuals to part with their savings in pursuit of unimaginable riches.

In a stunning operation, the Odisha Police managed to apprehend three key individuals involved in the fraudulent enterprise. One arrest took place in the breathtaking city of Jaipur, Rajasthan, just as the suspect was attempting to flee to the glitzy destination of Dubai. The other two culprits were nabbed closer to home, in Bhubaneswar, the capital city of Odisha.

The masterminds behind ‘Yes World Crypto Token’ took advantage of gullible investors’ dreams by making grandiose promises of astronomical profits. Sadly, their assurances turned out to be nothing more than smoke and mirrors, leaving innocent people struggling to come to terms with the crushing blow of financial ruin.

To amplify their allure, the company regularly hosted extravagant promotional events at upscale hotels, skillfully luring in potential victims with a veneer of sophistication and luxury. However, beneath the glittering surface, a sinister plot was unfolding, designed solely to rob innocent individuals of their hard-earned money.

This breakthrough marks the second sting operation by the EOW since August, when they dismantled a similar crypto-ponzi scheme. In that incident, the scamsters managed to defraud a staggering ₹1,000 crore from over two lakh individuals across the country. Thanks to the relentless efforts of the Odisha Police, four individuals associated with that scam were apprehended and brought to justice.

As this investigation continues to unravel, the Odisha Police vows to leave no stone unturned in their pursuit of justice for the victims. With the truth finally emerging from the shadows, this serves as a powerful reminder to exercise caution when dealing with high-risk investment schemes, especially in the ever-evolving world of cryptocurrencies.

In the face of adversity, one can only commend the Odisha Police for their relentless pursuit of truth and justice. As the nation grapples with the fallout of this colossal scam, let us hope that this exposé serves as a stern warning for both investors and criminals alike, and that the wheels of justice turn swiftly to bring solace to those affected by these malicious acts.



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