Multi-Crore Crypto Scam Surfaces In Kerala; Bitcoin Up 8%, Ethereum 7%

The Kerala police and other intelligence agencies have found out another multi-crore cryptocurrency investment scam running in the state. The suspected persons used to promise investors assured high returns and said that they work in a company which deals in crypto. Then they routed the funds through two Kochi-based companies, ‘Richferryman’ and ‘DealFX’ and duped investors.

“Many attended these ‘get-togethers’ and invested lakhs. The preliminary details show the accused had duped many people in Kottayam and Pathanamthitta districts. We are verifying the total amount collected by the accused which may come to around Rs 50 crore,” said an intelligence officer, reported Indian Express.

Earlier this year, the Enforcement Directorate (ED) had conducted raids in several locations in Kerala and other states and unearthed the Rs 1,200 crore Morris coin crypto scam. Morris scam’s alleged mastermind Nishad K., a Malappuram native, was said to have duped investors from several countries and Indian states.

Cryptocurrency Prices

The global crypto market capitalisation was up by 5.58 per cent to $968.92 billion as of 8.30 am. The global crypto volume was also up by 10.28 per cent to $63.39 billion, according to Coinmarketcap data.

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $21,938.11, higher by 7.69 per cent in the last 24 hours. Ethereum (ETH) rose by 6.72 per cent to $1,249.14.

Among other significant coins, Cardano (ADA) was up by 4.23 per cent at $0.4842, Algorand (ALGO) was trading with a gain of 3.84 per cent at $0.3229, Solana (SOL) was trading with a gain of 3.95 per cent at $38.46, Polkadot (DOT) was up by 5.84 per cent at $7.38, and Binance Coin (BNB) gained 2.51 per cent at $242.89.
 

Today’s top gainer was MetaversePay (MVP), which was up by 570.37 per cent at $0.00001299. The top loser was OpenLeverage (OLE), which was down by 97.27 per cent at $0.1368. 

Meme Coin And DeFi Prices

Dogecoin (DOGE) was up by 4.22 per cent at $0.07154. Its volume to market cap ratio stands at 0.04485. Rival Shiba Inu (SHIB) was up by 7.58 per cent at $0.00001129.

Dogelon Mars (ELON) rose 4.97 per cent to trade at $0.0000003375, Floki Inu (FLOKI) gained 3.71 per cent at $0.000006748, and Samoyed Coin (SAMO) gained 6.53 per cent at $0.009581. 

In the DeFi segment, YFI (yearn.finance) was up by 6.57 per cent at $6,745.83, and Terra Classic (LUNC) was trading with a gain of 1.8 per cent at $0.000114. Avalanche (AVAX) was up by 6.79 per cent at $20.62, Uniswap (UNI) was trading with a gain of 9.55 per cent at $5.84, and Aave (AAVE) rose by a massive 16.85 per cent at $73.36.