Indian Police Arrest Operators of $2.6 Million Bitcoin Ponzi

Indian authorities have arrested two individuals accused of operating a bitcoin ponzi scheme that swindled some 300 bitcoins, approx. $2.6 million in current prices, from 5000 victims. The duo, alleged to be running a multi-level marketing (MLM) scheme that incentivized investors to lure in others into the scheme, promised high returns on bitcoin investments through a company called Bitmineplus. The company encouraged investors to deposit or buy bitcoin from the company, which it then held, to offer monthly returns as high as 12%, details from its still-functioning website reveals. According…

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