Indian police in Maharashtra’s Thane, on Tuesday, arrested and charged a man accused of perpetrating a crypto scam worth 250 crore Indian Rupees or about $31 million. Ritesh Panchal, the accused, is said to have scammed about 1,441 investors, luring them in by a fake cryptocurrency racket. The accused man launched a fake Magic 3x cryptocurrency racket and doubled the initial investments in 10-20 months, luring in more investors. The police revealed that he had maintained four bank accounts and used two fake crypto names.
