Indian Authorities Catch Bitcoin Thieves Defrauding Job Seekers | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
The Uttar Pradesh Special Task Force (STF) has arrested a gang of bitcoin (BTC) thieves who act as employment agents, posting fake overseas job offers online to defraud applicants of their cryptos. Authorities have succeeded in apprehending three members of the gang, seizing their ATM cards and Rs 21,300 (roughly $301) in cash, reports the Times of India on November 4, 2019.
End of the Road
Despite the unfriendly stance of the Indian government towards bitcoin (BTC) and other cryptocurrencies, bad actors in the region remain very much interested in enriching their wallets with ill-gotten cryptos.
In the latest development, the Uttar Pradesh special task force has arrested Rakesh Kumar Singh, Bittu Yadav and Pradeep Deo, three Bihar residents who formed a fake employment agency that posts fake vacancies online and demand bitcoin from unsuspecting job seekers.
Rajeev Mishra, Senior Superintendent of Police (SSP) at the STF has revealed that the group was made up of a “scammer,” whose responsibility was to advertise the fake job openings online, a “picker” who collects the application fee from interested applicants and a bitcoin trader who then converts the funds into bitcoin and transfers it to different wallets.
“The scammer is the main handler of the scheme. He roped in a bitcoin vendor and pickers gives them their commission after executing each mission. The scammer posted adverts for jobs asking people to contact him. Once an applicant gets trapped,