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Seven persons have been cheated of ₹4.68 crore in a cryptocurrency fraud in Nagpur in Maharashtra, police said on Tuesday.
The five accused who were running this racket, in which investors were promised high returns, have been identified as Mohd Habib Mohd Hanif (39) from Karnataka, Mohd Abbas Mohd Yusuf (34) from Punjab, Begum Junaidi Moahhad Sheikh, Ahmed Sheikh and Burhan Sheikh, a Sonegaon police station official said.
"They lured people to invest in Korbit cryptocoin by holding meetings with investors in a plush hotel here between March 5 last year and January 4. Against an investment of ₹6.58 crore, the accused returned only 1.89 crore," he said.
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