An Indian student, Shaurya Singh (23 years old), has been denied bail in connection with a cryptocurrency scam worth 3.81 crore rupees, approximately 457,000 USD(. Singh, a first-year Computer Applications student in Nagapur, is accused of assisting the suspect Sudhir Palande by transporting tools of the crime such as chequebooks, SIM cards, ATM cards, while renting COINCDX accounts and using bank accounts to make payments for the scam group. Singh received at least 500 USDT from this group.
The incident occurs against the backdrop of increasing cryptocurrency crime in India and Southeast Asia. The Indian Enforcement Directorate )ED( is expanding its investigation into a cross-border scam network, after Cambodia arrested over 3,000 suspects. The ED has arrested 8 individuals related to money laundering and shell companies, committing to strictly handle all illegal activities.
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Indian student detained in connection with a $457,000 cryptocurrency scam.
An Indian student, Shaurya Singh (23 years old), has been denied bail in connection with a cryptocurrency scam worth 3.81 crore rupees, approximately 457,000 USD(. Singh, a first-year Computer Applications student in Nagapur, is accused of assisting the suspect Sudhir Palande by transporting tools of the crime such as chequebooks, SIM cards, ATM cards, while renting COINCDX accounts and using bank accounts to make payments for the scam group. Singh received at least 500 USDT from this group.
The incident occurs against the backdrop of increasing cryptocurrency crime in India and Southeast Asia. The Indian Enforcement Directorate )ED( is expanding its investigation into a cross-border scam network, after Cambodia arrested over 3,000 suspects. The ED has arrested 8 individuals related to money laundering and shell companies, committing to strictly handle all illegal activities.