Cryptocurrencies are new, and it is important to accept that not everyone understands them equally. As a tech-savvy young individual, you might understand its benefits and quirks well, but there is still a large audience not privy to the ways of crypto. This is what the scammers take advantage of, and yes, they become successful. Therefore, the Indian Police Commissioner, Shikha Goel, took the matter into her hands as she spreads awareness regarding crypto scams.
Shikha Goel’s message
Shikha is the Addl. Commissioner in Hyderabad. She said that it is essential that investors only get into crypto through reputed platforms that have been here for quite a while. This is important till the government introduces proper regulations that will make it even safer to invest in cryptocurrencies. Shikha also said that there are a lot of ways that scammers are using to take people’s money. One of them is offering investment opportunities that are too good to be true. There are also ads where we see scammers asking to make a transfer and get double the amount back.
This is important, and every investor should take her words seriously. There have already been 16 cases, and the next one might be you or someone you know. A simple idea is not to transfer crypto to any private wallet or address. She also reported that over 3.45 crore rupees had been lost in such scams till now.
What if you have been scammed?
Shikha says that in case something like this happens to you or someone you know, then informs the police as soon as possible. The faster they take action, the more the chances are of recovery. However, it is true that it is very difficult to track virtual money, and in most cases, it is going to be a dead end. So, the phrase “Prevention is better than cure” makes perfect sense here. Always remember that if something sounds too good to be true, then it is most definitely not.
What are your thoughts as the Indian Police Commissioner spreads awareness regarding crypto scams? And do you think more officials should take up this responsibility and do the same? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Binance fined 8M Lira in Turkey for money-laundering non-compliance
