The Mumbai crime branch has arrested four suspects part of the Rs 100 crore Cashcoin scam which fleeced investors across India. According to the report by Times of India, Ashok Goyal Jaipuria, Asif Malpani, Baljit Singh Saini and Pradeep Arora were arrested from Delhi.
Ashok Goyal Jaypuria is said to be the mastermind behind the scam, who was eluding arrest for some time. Shockingly, an unnamed Bollywood actor who was a part of the promotional events will also be questioned regarding the case. Crypto Dost had reported about the first arrests made in the case last month.
While it is good to see that the alleged perpetrators behind the scam are now behind bars, we urge the investors to be more careful about ‘get rich quick’ schemes. We also want to reiterate that a proper regulatory framework for cryptocurrencies will go a long way in mitigating such scams.