Over 900 investors have been allegedly cheated to the tune of ₹1200 crore through a cryptocurrency scam, that offered staggering returns of up to 3% a day on an investment of ₹15,000 made to purchase Morris Coin, a fake cryptocurrency.
The accused, 31-year-old Nishad K who is a resident of Kerala, and his partners, allegedly collected deposits from investors under the guise of an Initial Coin Offer (ICO) for the launch of Morris Coin cryptocurrency.
An initial coin offering (ICO) is the crypto industry’s equivalent of an initial public offering (IPO). A company seeking to raise money to create a new…
