Call center gang from India’s Madhya Pradesh state managed to steal about $1.7 million in bitcoin from U.S. Citizens. The gang members used various methods and were later arrested according to the reports we have in our latest cryptocurrency news.
According to the Business Standard, there were about 78 people in the gang and operated about three call centers. They scammed the U.S. citizens by illegally obtaining social security numbers of more than 100,000 people and they also obtained their phone numbers and other ID information. The police reports show that the duties of the arrested members of the gang involved contacting U.S. citizens posing as Social Security Administration employees and whey would later tell them that their security number was used in suspicious or illegal activities.
Jitendra Singh who is the Superintendent of Police stated that the callers would demand from the people to be paid between $50 and $50,000 or they will get arrested and they will get their social security numbers blocked if they didn’t comply. According to the reports:
‘’The tele callers, in chaste US accent, would tell them that for settling the issue they have to pay certain amount otherwise their social security number will be blocked and legal action initiated against them. This way they used to terrorize American citizens and make them pay amounts ranging from USD 50 to 5,000 through gift card, Bitcoin and other online modes.’’
During the raid on the call centers, about 60 computers and more than 70 cellphones were seized. There were also many devices and servers sized as well. The members of the gang were aged from 18 to 32 and this is certainly not the first Bitcoin scam operating as an Indian call center as we previously reported in the altcoin news. Busting down the call center comes during the SSA-related scams times in the United States. Three months ago the Federal Trade Commission discovered more than 60,000 fake SSA calls filed with the government body since 2018. More than 3 percent of the filed calls turned out to have lost money to the scammers.
The total money lost in the Indian call center scheme reached $16.6 million but the FTC did not explain what percentage was paid in Bitcoin.
Bitcoin Hash Rate Reaches New High As Price Reclaims $9,000
Bitcoin Just Surpassed 1 Million Daily Active Addresses
"When Bitcoin first broke 1 million active addresses (Nov 27, 2017), 1 BTC was $9,352 and the median tx fee was $3.23. Yesterday 1 BTC was $8,230 and the median tx fee was $1.33."Even though the DAA does not man much in practice, the fact that Bitcoin just surpassed 1 million daily active addresses is an important metric on many altcoin news sites - mostly because it shows actual and unique transfers which are separate from the direct ones to and from bigger exchanges. The fact that there are more than million unique addresses transacting on the blockchain is good for Bitcoin. https://twitter.com/kerooke/status/1139919876838047744 In order to put this number in perspective, however, we can link to Uber and its estimated 14 million rides per day or estimated 798,877 iPhones a day which Apple sold in 2017. While these are comparisons like Apples to oranges, it is definitely interesting to note that Bitcoin is doing the transaction volume of some of the biggest brands in the world. The news that Bitcoin just surpassed an interesting milestone are re-shared on many best cryptocurrency news sites. Curiously, shortly after reaching this milestone, Bitcoin's price started rising going from $8,450 to a $9,300 high. At press time, the Bitcoin price seems to have corrected and is trading a little over $9,100. One of the factors behind the flagship cryptocurrency and its price rise could be Facebook's foray in the crypto space. Still, Bitcoin just surpassed 1 million daily active users and there could be a real possibility that BTC is heading for the $10,000 mark by June 21 because of it. Right now, there are no coming altcoin news or altcoins showing a similar level - or active addresses which surpassed one million. The Bitcoin traders should be proud of that - and proud of a retracement for the Bitcoin blockchain which has not been since two years ago - in November 2017.
Bitcoin Above $9.3k: BTC Price Records A 13-Month High
Coinbase Custody Has $1.3bn In Assets Under Custody
“We have $1.3bn AUC and expect to hit $2bn soon. We have no intention of stopping there. [...] Coinbase Custody services over 90 clients. Of those, approximately 40% are outside of the US.”The tweet also claims that - as cryptocurrencies mature and become an even more popular and dominant asset class- financial hubs such as the city of London are becoming centers for crypto innovation. Another tweet notes:
"1/ Last week Coinbase Custody CEOA month ago, during one on-stage discussion at Consensus, the CEO of Coinbase Brian Armstrong said that its custody service had already raked $1 billion in assets under management (AUM). Having that in mind and the latest cryptocurrency news showing that this number went to $1.3 billion - it is certain that the custodial branch of the exchange is soon going to hit the $2 billion mark. Meanwhile, as we reported in March this year, the US Securities and Exchange Commission (SEC) is soliciting industry input as it potentially reconsiders the existing custody rules in specific cases of digital asset trading as well as settlement. Aside from Coinbase Custody and its London presence, the Hong Kong-based trading and asset management firm BC Group also announced that it is launching an insured custody service for cryptocurrencies.
@sammcingvale and Coinbase CISO @SecurityGuyPhil visited the UK to discuss the institutional cryptoeconomy with a range of prospects and clients."
Join us on Facebook
- Bitcoin Hash Rate Reaches New High As Price Reclaims $9,000
- Indian Central Bank Denies Knowledge Of Proposed Crypto Ban Bill
- Gold-Backed Russian Crypto Could Crush The USD Standard
- Crypto Trading In The US Becomes A Nightmare, What’s The Solution?
- TRON Community Aims To Get The Token Listed On Coinbase
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Regulation4 days ago
Financial Action Task Force Wants To Turn BTC Exchanges Into Banks
Ethereum News2 days ago
Ethereum Will Skyrocket By 70% Against BTC: Analyst Prediction
Bitcoin News2 days ago
Bitcoin Tax Evasion Will Be Criminally Punishable: IRS Warns
Bitcoin News2 days ago
Weiss Ratings Upgrades Bitcoin From B- To B: Report
Altcoin News3 days ago
Bitcoin Wraps Around $8,200: Consolidation Could Happen Soon
Blockchain News4 days ago
Erik Finman Will Bring Crypto To The Masses With The Help Of CoinBits
Altcoin News5 days ago
Coinbase VISA Card Is Now Live In Six European Countries
Altcoin News2 days ago
Crypterium Launches A Global Crypto Payments Card