The cyber cell division of Bandra Kurla Complex police, Mumbai, have learnt from the 14 people arrested in the fake loan app scam that involved Chinese nationals that they converted the extorted money in cryptocurrency and then routed it outside India. So far, Police suspect about Rs 350 crore was being moved abroad using cryptocurrencies by these fraudsters, reported TOI.
In other news, Sherrod Brown, Democratic party Senator from Ohio, US, has asked Apple and Google to explain their crypto apps reviewing and approving process in the light of many people getting scammed due to fake crypto apps.
“Crypto mobile apps are available to the public through app stores, including Apple’s App Store. While cryptocurrency apps have offered investors easy and convenient ways to trade cryptocurrency, reports have emerged of fake crypto apps that have scammed hundreds of investors,” an extract of the letter that the Senator wrote to Apple, reported The Verge.
Apple and Google come under scrutiny for scammy crypto apps https://t.co/c9izzQNAHO pic.twitter.com/7wQ0hXirV0
— The Verge (@verge) July 28, 2022
Cryptocurrency Prices
The global crypto market capitalisation went up by 2.76 per cent to $1.09 trillion as of 8.50 am. The global crypto volume was up by 17.5 per cent to $104.15 billion, according to Coinmarketcap data.
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $23,803.31, higher by 2.38 per cent in the last 24 hours.…
