Thousands lose over 200 cr in series of crypto rug-pulls in HP

Fraudsters in Himachal a series of a cryptocoins -- two of which were KRO and DGT -- to cheat thousands of investors of more than Rs 200 crore over a period of five years, beginning in 2018 -- the year the crypto reached fever pitch.

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The persons alleged to be part of a gang lured people promising them high returns in a short span of time in crypto investments and created a network of investors.

The initial investors then were baited to reel in other people in a ponzi-style scheme.

The matter was raised in the Vidhan Sabha by Independent MLA Hoshyar Singh who pegged the amount of money swindled from people in Kangra and Hamirpur alone to be upwards of Rs 200 crore.