CandleFocus Indian Police Crush 'Goldcoat Solar' Fraud — Binance Aids in Crypto Seizure
2024-10-16
Author: Content Editor
Indian police, with the support of crypto exchange Binance, have dismantled a fraudulent operation run by M/s Goldcoat Solar. The scheme, which impersonated a national solar energy initiative, lured investors with promises of high returns. Multiple arrests were made, and cryptocurrency assets were seized. The criminals used social media and impersonated government officials to deceive investors. The syndicate funneled money through bank accounts and converted some funds into cryptocurrency. This case highlights the importance of public-private partnerships in combating fraud.
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