Crypto Scam: How A Ponzi Scheme On WhatsApp Led Up To A Ransom Rage

Crypto Scam: How A Ponzi Scheme On WhatsApp Led Up To A Ransom Rage

SUMMARY

What we covered in the first article was the tip of the iceberg; the transaction size for one order could go as high as $24K, say victims

Every time a user loses, s/he has to invest double the lost amount: We have unearthed what happens deep inside these crypto Ponzi schemes

Despite repeated follow-ups by victims, the Delhi Police have not yet taken any step

“For the first month and a half, I genuinely believed in them… Until I lost $6,000,” said Delhi-based Manish Gupta.“The handling fee of WazirX is a bit expensive. Are you sure you want to use it? Or do you want to use Binance?” the assistant nicknamed Coco asked Gupta.“I thought the GD account was fully safe and was controlled by me and me only. But it was not. I had to seek their permission for any withdrawal,” said Gupta.

Gupta is one of the many investors who was duped in a recent crypto scam that made inroads via innocuous-looking WhatsApp groups.

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