He said, “Cybercriminals ask you to give details of cryptocurrency and as soon as you transfer digital money to the wallet, they take it out. Deal with that.”
He shared this advice by posting a video on his Twitter handle. Earlier this month, there were several reports that suggested Chinese and Nigerian scammers are targeting crypto investors in India.
Goyal reportedly said that there have been recent fraud cases against 16 crypto investors in which they lost a total of Rs 3.45 crore. “People are losing their crores in the greed of getting more by investing in cryptocurrencies,” he said. Goyal said that the virtual currency once lost cannot be brought back to its original owner.
In early December, the Telangana government signed deals with crypto exchange CoinSwitch Kuber and innovation management firm Lomos Labs. The deal was made to run a blockchain accelerator program. Entrepreneurs who want to enter the blockchain segment can access opportunities, mentorship, tech support and funding through this program.
There is a debate going on in India as to what regulations should be imposed on cryptocurrencies. The government has raised concerns about cryptocurrencies. The government says that the use of cryptocurrencies can also lead to fraud and money laundering of investors.
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