Chinese-linked cyber crims nab $529 million from Indian nationals
Chinese scammers have reportedly stolen a whopping $529 million dollars from Indian residents using instant lending apps, lures of part-time jobs, and bogus cryptocurrency trading schemes, according to the cyber crime unit in the state of Uttar Pradesh.
As of last April, the coppers had busted a network of criminals worth around $378 million, but that total did not include the cryptocurrency-related frauds., the scammers promoted their fraud through bulk TXT messages that the police tracked to the Middle Kingdom, with some operators located in Nepal and working under direction by Chinese threat actors. Fake websites and crypto apps were set up to lure in investors.
"The instant loan apps, the part-time job offers and now the crypto trading fraud, all of them are being operated by the same hackers from China. The SMS aggregators are also involved in it," Uttar Pradesh Cyber Crime Superintendent of Police Triveni Singh said, according to Press Trust Of India . The crims absconded with funds by first transferring money from the victims to local Indian bank accounts and digital wallets before transferring the cash to Indian crypto currency exchange platform Zebpay and similar international platform Binance.
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