As crypto is becoming more popular Indian scammers seem to take most of the situation and re-qualify from call centers idea.
India is a known world capital of call centers scams. There reasons of such scams viability might be different: from the lack of appropriate regulation to scammers being hardworkers in this sphere.
The rise of crypto popularity at subcontinent has made Indians to take advantage of this fact as well.
In his interview to Cointelegraph the founder and CEO of a blockchain and cryptocurrency research company Crebaco, Sidharth Sogani, told the most popular are the schemes related to multi-level marketing and “fixed return” crypto investment schemes.
Based on Sogani’s opinion the novices in crypto sphere are often caught by the project technical details and modern tricks so invest everything they have in order to get quick profit.
Another target of such scammers is rich people who can’t deposit their funds into legal institutions due to such money illegal nature.
After, such money is laundered in other countries. The overall sum of losses of Indian investors from scams between 2017 and 2019 made around five hundred thousand million USD. There are the facts when two Indian businessmen lost 50000 ad 3 million USD respectively.
This is the reason why Sogani reiterates to Indian regulators the necessity to make Indian crypto space more regulated and draft laws protecting from the scams and money loss. This might be extremely topical with the rise of crypto prices and possible flash of scammers activity. At the same time he mentioned that crypto ban will only increase the amount of scams.