Technology has gained a lot of advancements and so has the criminalist. In our 3 dimensional worlds, we are surrounded by thugs, thieves and dupers. In the virtual world of the internet, we are surrounded by criminals as well. They are called Cyber Criminals or Unethical Hackers. 

A recent case of cybercrime has come forward where a group of cyber criminals duped many Indian investors online and fraud fully stole $2Mn (Rs. 15 Crore) worth of money. RBI, the apex bank of India has banned dealing in Cryptocurrency for all banks in India. Even though some people find ways to invest in cryptocurrency. We all are well aware of cryptocurrency sensation going around these days. It is nothing but digital money. 

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A group of scammers/hackers had created multiple websites as a platform for people to deal/invest in cryptocurrency. Websites were in the names such as ‘bet2bet’. The websites had features and facilities to allow Indian investors to put their money in cryptocurrency. However, the fraudster created a range of investment schemes and offered promising “soaring returns at an exponential rate” on their websites, to make it look more attractive and realistic.

The creators turned cyber criminals decorated their websites with quotations and thoughts from popular businessmen such as Bill Gates, Richard Branson, Eric Schmidt etc to make an impression on the investor that the website owning organisation is associated with the said businessmen in some way. Thus, creating a sense of trust in the mind of the website visitor lurking them to give their valuable earnings to the fraudsters.

Their idea went well and Indian investors quickly fell into their trap, ending up investing about $ 2 million (Rs. 15 crores) through these sites(As estimated up till now). Once. Once the victimised investors became aware that their money is not coming back, the started lodging complains to cyber police. After several complaints, the police understood the seriousness of the case and started investigating. 

As a result, they came to know about the 4 suspects of the crypto scam, who were arrested by the Rajasthan Anti-Terrorist Squad (ATS). They have been registered under the IPC for various charges including breach of trust, cheating and criminal conspiracy.

Cyber criminalism is increasing day by day. Personal information of thousands of people gets stolen online every day. People fall victim to the unethical hackers resulting in money loss. People are being scammed through the internet. Government, as well as educational institutes, shall start educating the citizens especially elderly ones who are not so friendly with the technology. Cyber Police should also strengthen its task force to take immediate and effective actions against the same.