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The accused have reportedly left the country as per police allegations.
Large investors were reportedly promised vacations in Dubai by the suspects, who also included guarantees of profits.
They also said they were constructing a posh office, but when a few investors travelled to Dubai to verify the claims, it is claimed that they were shown other unrelated under-construction structures.
According to one of the victims, who was allegedly conned out of Rs. 1.47 crore, the new cryptocurrency was said to be worth USD 2.5 at the moment and was expected to soar in value in the future.
The accused promised the duped people, returns of up to 200 percent within a year and returns of 5 percent to 20 percent every month, along with other varied bonuses and rewards.
The website consistently displayed an error whenever we attempted to withdraw money, a victim claimed. The victims were then informed that, depending on the corresponding day of making the investment, their profits would be automatically credited to their bank accounts on the 5th, 15th, or 25th of every month.
