Woman arrested in Ireland: $1.1M crypto scam
A woman got arrested by the government agency of Ireland for her involvement in the crypto investment scam.
With the adoption of the crypto industry, bad actors are also surging because they are also looking to grab opportunities to facilitate illegal and strange scams easily. The majority of the bad actors use the method of promising high return on investment but sometimes bad actors also choose those simple offline trade methods to trick the people easily.
According to the report of DublinLive, a 60 years old woman was arrested. As per report details, the woman promised to invest $1.1 million worth of funds in crypto without going online (without the involvement of tax and fees like the system). But in actuality, the woman purchases some crypto assets for her own needs and deposited the rest of the funds in the bank.
The Garda National Economic Crime Bureau (GNECB) worked with many banks to get the money back to give to Victim. Reportedly, the victim received 50% of the funds.
Legislation on Crypto boosting crypto scam
Because of the increasing interest of investors in the Crypto industry, the majority of the countries’ government imposes many tight rules so that people can avoid investing in crypto.
In particular, high amounts of investment leads to high charges and also a high amount of revenue tax, so people try to get alternative options to invest funds in crypto illegally and these are making people go with such unfair and bad activities, which have huge possibilities to facilitate scams.
A similar kind of incident happened recently in India, where a victim lost more than 2 million worth of funds because of offline crypto buy deal. The opposite party beated & stole the funds.
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