Police arrests four in cryptocurrency fraud in India

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Haryana Police has arrested four fraudsters including the mastermind for allegedly duping people in the name of online business involving bitcoin transactions. Director General of Police (DGP) Manoj Yadava on Thursday said the mastermind - Harinder Chahal alias Sonu Chahal - tricked victims into believing that he was in possession of bitcoins whereas the wallets held non-spendable (dummy) bitcoins.

According to an official statement, a case was registered in Cyber Police Station, Panchkula under relevant sections of IPC and IT Act, the DGP said.

Police along with cyber experts started the investigation and it was revealed that several people were involved in this luring gullible people to invest in bitcoin.

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