In India, 19 family members have been accused of scamming two brothers in Thane out of over $119,000 through a cryptocurrency scheme that promised 12x returns. The brothers had invested $109,000 and $30,600 starting in March 2022, but the promised returns never materialized, and the accused fled. One of the victims filed a police complaint after receiving threats. So far, no arrests have been made, but a case has been registered under multiple legal provisions. This incident highlights yet another example of the risks involved in unregulated cryptocurrency investments.
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