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Commissioner of Police Issues Stern Crypto Warning To Indians


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Commissioner of Police, Shikha Goel has issued a warning to citizens about the rising rate of cybercrime in India. The high-ranking officer made the announcement during an event organized by Hyderabad police department in India, where she advised against transferring cryptocurrencies to unauthorized private wallets.

Commissioner of Police Educates Indians About Common Methods Employed By Cybercriminals

While admitting that there has been an amazing increase in the number of Indian crypto users, Goel also mentioned some of the common methods that fraudsters use to defraud unsuspecting investors. She mentioned how they offer fake investment opportunities by promising unrealistic returns. Goel then highlighted illegitimate bank transfers and cryptocurrencies as other scamming tactic being used by the scammers. In her Twitter post, the commissioner of police wrote:

“They [fraudsters] ask you to share your cryptocurrency details. And once you put it in your wallet, then the money is taken away.”

Meanwhile, Goel confirms that no less than 16 such cases of crypto-related frauds, have already been registered. She then warned potential investors to only deal with highly reputed crypto businesses who have been in the industry for long.

How To Report Fraud Cases

In an interview with The Hindu, Goel said 14 out of the 16 crypto fraud cases were investment and trading-based. She also claims that at least, victims have lost up to 3.45 crore rupees (nearly $458,000) due to greed.

So, for all who may have fallen victims of these scams, they are advised to report by simply dialing 155260. According to Goel, calling this helpline increases a victim’s chances of retrieving their lost money.

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mayowa adebajo
mayowa adebajo
Mayowa Adebajo is a fintech enthusiast with a decade long experience writing news stories and creating content generally. When he's not writing, he's either talking politics or discussing sports.

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