Latest Crypto News: Delhi Police Unearth Rs 500 Crore Crypto Scam, Scammers Hack Jal Shakti Ministry’s Twitter Account

From the Rs 500-crore cryptocurrency scam to the hacking of Jal Shakti Ministry’s Twitter account, here are some latest developments in the crypto space.
Latest Crypto News: Delhi Police Unearth Rs 500 Crore Crypto Scam, Scammers Hack Jal Shakti Ministry’s Twitter Account

Delhi Police have unearthed a cryptocurrency scam worth Rs 500 crore. The police are reportedly on the lookout for a group of cybercriminals accused of defrauding scores of people by promising them 200 per cent returns on their investments.

A Times of India report claimed the criminals may have fled the country. The accused hosted meetings with potential victims at posh hotels and took them on Goa vacations as bait.

In Goa, the accused would organise large events to acquaint them with blockchain technology and how they could earn big profits. Large investors were reportedly promised Dubai vacations and guaranteed profits.

"They also claimed to be building a swanky office, but when a few investors visited Dubai to check the authenticity, they were allegedly shown random under-construction buildings. The accused also claimed to be running a cooperative society bank in Maharashtra, which turned out to be false," TOI quoted the FIR as saying.

Water Resource Ministry’s Twitter Account Hacked

According to a cybersecurity expert, the Twitter account of the Ministry of Jal Shakti was briefly hacked on Wednesday morning. Hackers reportedly posted bogus promotional giveaway adverts for Tesla vehicles and cryptocurrencies like Bitcoin and Ethereum.

Commenting on the attack, Satnam Narang, senior engineer at the US-based cybersecurity firm Tenable, said the attackers used multiple bot accounts to repost and like the post.

“The website linked in the Ministry of Jal Shakti’s tweet leads to a standard cryptocurrency scam page mimicking the @Medium layout with links to separate giveaway pages for Bitcoin ($BTC) and Ethereum ($ETH),” Narang said in a tweet.

The Jal Shakti Ministry's Twitter account faced a similar attack earlier this month. Meanwhile, cybersecurity agencies have started a preliminary probe into the attack. The investigators said suspicious tweets were deleted from the account and it would be restored shortly.

Solana Loses Most Of Its Value In 2022

Solana’s (SOL) price fell 10.36 per cent on Wednesday and is down 94.2 per cent for the year, Reuters reported. Former FTX CEO Sam Bankman-Fried, accused of stealing billions of dollars from investors, lauded Solana regularly. FTX’s fall led to industry-wide chaos, limiting the liquidity of businesses exposed to it. The Solana network is powered by the SOL token.

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