Goel highlighted the various methods that are actively being used by fraudsters to dupe investors such as lucrative investment opportunities, illegitimate bank transfers and cryptocurrencies. Acknowledging the growth of Indian crypto users, Goel added:

After simplifying the elaborate fraud in a sentence, Goel also highlighted that sixteen such cases have been registered involving cryptocurrencies.

The Additional Commissioner of Police Shikha Goel warned Indian citizens about the rise in cybercrime in an event hosted by the city police of Hyderabad, India, suggesting not to transfer cryptocurrencies to unauthorized private wallets.

Do not transfer your cryptocurrency to unauthorised private wallets Dont fall prey to fraudsters #BeCyberSmart

Indian police commissioner issues a public warning against crypto frauds

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