Bengaluru Crime Branch busts cryptocurrency Ponzi scheme, 4 held

Crime Branch of Bengaluru on Monday arrested four persons for their alleged involvement in running a Helium Crypto Token (HNT) through a mobile application.

The police informed that via this mobile application, Rs 15 crore was routed through 44 different bank accounts among other items.

"Cryptocurrency Ponzi scheme busted! @CCBBangalore has arrested 4 persons for running and operating a Crypto Miner-HNT (Helium Crypto Token) through a mobile app called SHAREHASH. The app promised high returns on investments and collected crores of rupees from gullible people," tweeted Commissioner of Police of Bengaluru City, Kamal Pant.

"Rs15 Crore routed through 44 different bank accounts, 1.6 Kg of gold ornaments, Rs78 lakh cash, 44 Digital Signature Certificate tokens, 5 company seals, mobile phones, and laptops have been seized," the tweet further read.

The tweet read, "Here's some advice: Be careful, if they are offering you high returns, it could be a trap. A cash reward of Rs70k reward has been announced to the team. Further investigation is underway."

( With inputs from ANI )