Former Bitconnect India head is arrested again for another crypto scam

04 Jun, 2019
by Fifi Arisandi
News
Former Bitconnect India head is arrested again for another crypto scam

Former Bitconnect head in India is arrested for another cryptocurrency scam that has managed to deceive thousands of people. 

Former head of renowned scam, Bitconnect has to deal with the Indian authorities again for, guess what… another crypto scam.

Divyesh Darji has been actively promoting his new scam coin since 2017. The so called Regal Coin is said to give a return of 5,000% as for each $2, investors are promised to get $100.

“Darji had promised that the investor would get the principal amount in 99 days. He had also promised to give interest on principal amount as per robotic trading profit along with 1% to 1.6% bonus as referral bonus at every 11 days,” said an official of the Indian Criminal Investigation Department (CID).

The CID found out about the scam after a victim who lost $26,783 reported, which then led to the arrest of the con man. Darji was eventually released on bail while waiting for the legal case to proceed, as reported by Cointelegraph.

Lastly, further report of the CID revealed that the Regal Coin scheme has successfully amassed thousands of dollars from thousands of investors.

As to Bitconnect, Chepicap reported last month that there was a post on Reddit that announced its relaunch. “Welcome everyone back to Bitconnect 2.0. We will launch Bitconnect2.0 on July 1st,” so it wrote.

Whether or not it’s something serious to be worried about remains to be seen. Stick with Chepicap for updates.

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Read more about: India Bitconnect

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