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Tag: India

Regulatory Clampdown in India Leads to Mass Exodus of Blockchain Talent

Category: Blockchain, Business, News, Regulation

Regulatory Clampdown in India Leads to Mass Exodus of Blockchain Talent

India is currently witnessing the mass movement of blockchain and cryptocurrency talent, as the regulatory environment toughens within the country. According to an article published by News18 on September 19, 2018, blockchain talent which includes developers, service providers, and blockchain-related companies are moving abroad to cryptocurrency-friendly countries like Thailand, Estonia, and Switzerland. Blockchain Destinations Attracting Indian Talent “There are talented…

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Amidst India’s Reluctance to Adopt Cryptocurrencies, ‘Cryptojackers’ Mint Money off of Indian Websites

Category: Altcoins, Business, Finance, Investment, News, Tech

Amidst India’s Reluctance to Adopt Cryptocurrencies, ‘Cryptojackers’ Mint Money off of Indian Websites

Although Indian regulatory bodies have maintained their distance from cryptocurrencies – this attitude has not deterred ‘cryptojackers’ from indirectly mining cryptocurrencies off of government websites. Per a report by The Economic Times, published on September 17, 2018, ‘cryptojacking’ continues to be a menace for the websites in the country. Cryptojacking on a Climb Hackers continue to mine cryptocurrencies taking advantage…

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TransferGo Banks on Ripple’s Blockchain Solutions for Indian Expansion

Category: Altcoins, Blockchain, Business, News, Tech

TransferGo Banks on Ripple’s Blockchain Solutions for Indian Expansion

TransferGo, a digital payments solutions firm headquartered in London has announced that it has extended its remittance services to India. Per a press release published on September 5, 2018, TransferGo will serve its customers in India, enabling swift real-time remittances from “anywhere in Europe” with aid from Ripple’s blockchain solutions. Collaboration with Ripple Although Ripple’s crypto token XRP seems to…

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Indian Cryptocurrency Exchange to Process all “Stuck” INR Balances despite Central Bank Ban

Category: Altcoins, Bitcoin, Blockchain, Business, Exchange, Finance, News, Regulation

Indian Cryptocurrency Exchange to Process all “Stuck” INR Balances despite Central Bank Ban

Zebpay, an Indian cryptocurrency exchange , announced to all customers on September 4, 2018, outlining its intentions to return all INR balances to customer bank accounts, regardless of the country’s strict directive against doing so. Bold Steps As stated in the mail, Zebpay noted the lack of financial avenues has led to Indian traders sounding concerns about their fiat balances stored…

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Reserve Bank of India Concerned about Crypto-Regulations Backfiring

Category: Altcoins, Bitcoin, Finance, News, Regulation

Reserve Bank of India Concerned about Crypto-Regulations Backfiring

The Reserve Bank of India’s decision to crack down on the emerging crypto space may have been having the unintended effect of pushing digital currencies back into the underground. Ban Creating a Black Market? On August 29, 2018, the RBI released its annual report, which stated that there was a need to keep track of digital currencies in order to…

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Another Indian Bitcoin Scam Mastermind Arrested after Swindling Investors

Category: Bitcoin, Crime, Finance, News, Regulation

Another Indian Bitcoin Scam Mastermind Arrested after Swindling Investors

According to The Indian Express, Amit Bhardwaj, the Bitcoin scam mastermind, threw expensive parties and investor summits in Dubai and Macau only to deceive his investors of their funds. Bitcoin Scammer Tricks Investors by Throwing Lavish Parties Three of the 16 investors who lodged a complaint with the Chandigarh Police stated that they were cheated of almost Rs15 Crore (approximately…

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India: Bitcoin Scammer Offers to Return Initial Investments of his Victims

Category: Bitcoin, Blockchain, Crime, Finance, News, Tech

India: Bitcoin Scammer Offers to Return Initial Investments of his Victims

Amit Bhardwaj, the arrested self-proclaimed Bitcoin entrepreneur accused of duping thousands by promising hefty returns on Bitcoin investment, has told investigators that he is willing to return the principal amount owed to investors. However, Bhardwaj refused the allegation that he promised his investors a guaranteed profit all the times. The accused in the high-profile Bitcoin Ponzi scheme also declined any…

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Busted: Indian Police Raids CoinX Trading Office, Unearth $1.43 Million MLM Scam

Category: Bitcoin, Crime, News, Regulation

Busted: Indian Police Raids CoinX Trading Office, Unearth $1.43 Million MLM Scam

Yet another cryptocurrency-based Ponzi MLM scheme surfaced on August 25, 2018, as the police caught five fraudsters in the city of Hyderabad, India. While raiding a local real estate firm, GRM Estates Pvt. Ltd, cops caught imposters, including the brain behind the fraud company CoinX Trading, Gardas Ramesh. The company duped innocent investors by promising them lucrative investment plans based…

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Reserve Bank of India Quietly Forms an “Experimental” Blockchain and AI Unit

Category: Blockchain, Business, News, Regulation, Tech

Reserve Bank of India Quietly Forms an “Experimental” Blockchain and AI Unit

The Reserve Bank of India (RBI) has formed a new unit to focus exclusively on emerging technologies such as blockchain, artificial intelligence (AI), and cryptocurrencies. While the central bank is yet to make an official statement confirming the move, it seems the new unit is aimed at boosting its intellectual capacity to regulate better, and benefit from these innovations in…

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Brains behind $2.4 Billion Bitcoin Ponzi Scheme Arrested in Delhi

Category: Altcoins, Business, Crime, Finance, News

Brains behind $2.4 Billion Bitcoin Ponzi Scheme Arrested in Delhi

The man behind the Asian branch of the $2.4 billion cryptocurrency scam operation Bitconnect has been arrested by police officers on August 18, 2018, from the Gujarat Criminal Investigation Department at Delhi Airport on his return to India. Divyesh Darji, who has reportedly been living as a fugitive in Dubai was apprehended at Delhi Airport as the investigation into the…

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