Three former Indian soldiers reported being victims of a cryptocurrency scam, losing $96,000

ChainCatcher news, three former soldiers in India reported to the Pune Chandannagar police, accusing eight officials of a trading company of defrauding them of over 7.981 million rupees (approximately 96,000 USD) through a cryptocurrency scam since 2022. The three invested their retirement savings into the project, lured by promises of doubling their returns in 20 months and a monthly return of 10%.

The company's directors and one involved former soldier had previously been arrested in a similar case and are currently held in Yerawada Jail. The police are awaiting court approval for further questioning. Earlier this year, the company held a cryptocurrency seminar in Maharashtra, attracting multiple investors.