A gynecologist working out of central Mumbai, Maharashtra in India lost INR 1.1 crore (approx. $1,31,872) to a Facebook imposter. A lady called Melissa Campbell, proclaiming to be a professional in crypto trading, communicated with the doctor on Facebook last year, promising him a significant return on his investment. After
Considering the surge of increase in adoption of blockchain throughout the world, India has also taken notice of its potential and is researching the use of this distributed ledger technology in a variety of different fields. NITI Aayog has taken the lead in encouraging the use of cutting-edge technologies by
In a significant development for the Indian crypto community, the Kerala High Court has issued a groundbreaking directive, safeguarding the rights of bank account holders who have fallen victim to indiscriminate freezes on their accounts in cases related to cybercrimes.ย The court, in its ruling, called upon banks not to
Hindustan Petroleum (HPCL), one of India’s prominent oil and gas companies, is set to revolutionize its purchase order verification process with the introduction of a cutting-edge blockchain system. Collaborating with blockchain software firm Zupple Labs, renowned for its blockchain-based credential verification platform called “LegitDoc,” will provide the technology to streamline
The rising prevalence of crypto-related frauds over the last several years has understandably scared off several investors. Meanwhile, on Wednesday the 18th of October, authorities in Navi Mumbai exposed and shut down a major crypto fraud. Located in the Indian state of Maharashtra, Navi Mumbai is a city that borders
India is gearing up to launch a global database of cryptocurrency exchanges in an effort to combat crimes and money laundering activities associated with digital assets. This database will not only encompass information about legitimate cryptocurrency exchanges but also include details on exchanges operating in the dark web. According to
Indian government and institutions exhibit evolving sentiments toward the broadest use case of blockchain technology โ cryptocurrencies โ and its corresponding market dynamics. INOCYX, a revolutionary cryptocurrency exchange platform, has emerged as a beacon of innovation in the nation’s burgeoning crypto sector. The exchange has solidified its position as a
Cryptocurrency, like many other emerging technologies, was first ignored in India. It seemed as if Indians were hesitant to even acknowledge the industry existed. Lately, the government’s attitude on VDAs (virtual digital assets) has changed significantly due to widespread usage both internationally and in India. In 2022, this was formalized
Bollywood actor of India Govinda is under investigation for his participation in a bogus crypto scheme by the Economic Offences Wing (EOW) of the Odisha police. In July, Govinda was in Goa for a promotional event for Solar Techno Alliance (STA-Token), a cryptocurrency-looking MLM scam. To further understand Govinda’s involvement
Blockchain analysis platform Chainalysis unveiled its Global Crypto Adoption Index for 2023, revealing that India has surged to the top spot in terms of cryptocurrency adoption despite grappling with a challenging regulatory and tax environment. This marks a two-spot rise from its position in the previous year’s rankings. The report
