Cryptocurrency market India: How YouTube, Facebook videos helped hunt down 2 scamsters

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Published: February 11, 2018 3:28:53 PM

Cryptocurrency market India: Cyber cell unit of the Delhi Police Crime Branch took almost four months to gather evidence against Ashish Malik and Sandeep Kaushik who were behind the Rosneft hedge fund cryptocurrency racket.

Cryptocurrency, Cryptocurrency market, Cryptocurrency market in India, Facebook, YouTube, Priya Sankhla, Cyber cellLack of digital footprint left by the accused, confusion over whether the cryptocurrency was Indian or foreign, and lack of documentation by the complainants were making it difficult for cyber cell unit to gather evidence against the two men.

Cryptocurrency market India: Cyber cell unit of the Delhi Police Crime Branch took almost four months to gather evidence against Ashish Malik and Sandeep Kaushik who were behind the Rosneft hedge fund cryptocurrency racket. Lack of digital footprint left by the accused, confusion over whether the cryptocurrency was Indian or foreign, and lack of documentation by the complainants were making it difficult for cyber cell unit to gather evidence against the two men. Malik and Kaushik were arrested for allegedly setting up a multi-level marketing and selling cryptocurrency after claiming that they were associated with Russia’s premium petroleum company Rosneft. The two had conned almost a thousand people to invest in the two cryptocurrencies launched by them with higher returns.

Cyber-analyst Priya Sankhla, who advised the Delhi Police on the Kash Coin cryptocurrency racket in which a 32-year-old was arrested last year said that time taken to investigate such cases depends on the amount of information rendered by the complainants. They also said that the accused organised seminars abroad which left the investigators confused whether the cryptocurrencies were Indian or foreign. “If it is foreign, all we can do is request the host country and hope for a reply. In this case, even the servers were in a foreign country,” an officer said.

What came to the rescue of the police were the videos of the seminar which was uploaded on their YouTube channel, Facebook page and other websites. The police eventually managed to trace their phones and arrested them from Dwarka. However, DCP (Cyber Cell and FICN) Bhisham Singh said that the main accused has yet be be traced.

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