CandleFocus Indian police bust $2m RSN crypto scam with alleged ties to China
2025-03-03
Author: Content Editor
Law enforcement in India has arrested three individuals in connection with a large-scale crypto fraud scheme. The RSN Crypto scam lured over 2,000 victims with promises of high returns and a bogus online platform. The scammers advertised the RSN crypto token as a promising investment with a 2% daily return. However, the investigation revealed that the investments were quickly converted into stablecoin USDT using exchanges like Binance. The Indian Cyber Crime Coordination Centre tracked the operation, which had alleged ties to entities in China. Chinese scammers have increasingly targeted Indian investors through fraudulent crypto projects. Illicit crypto activity in India has risen with the country's growing interest in digital assets.
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