Tag Archives: india

An Indian district, Firozabad, about 40 km from Agra of Taj Mahal’s fame in the Indian province of Uttar Pradesh, would start the registration of complaints police complaints on the blockchain network.  The district, with 2.4 million people and 21 police stations, aims to achieve immutability and transparency of complaints lodged by victims of crime by leveraging this emerging technology.    Blockchain-Based Complaint Portal  “Using emerging technologies like Blockchain, a...

In a two-year-old gaming app fraud case, the top Indian financial crime investigating agency has frozen 85.9 bitcoins, equivalent to $1.6 million, held in an account on Binance. Separately, it also froze WRX, the native coin of WazirX, and USDT together, worth nearly $550,000. Earlier this month, the agency raided several premises in Kolkata in this case and recovered Indian currency equivalent to $2.2 million. The accused in this estimated $8.5 million scam is 25-year-old...

The Twitter account of Indian crypto exchange CoinDCX remained compromised for hours on Tuesday. Hackers posted a fake XRP giveaway scheme through the exploited Twitter handle @CoinDCX to the exchange’s over 230,000 followers. The giveaway message was interspersed with a phishing link. CoinDCX Twitter Account Exploited As CoinDCX tried to take control of its compromised Twitter account, it put out an alert through another Twitter handle, @CoinDCX _Cares. It was also...

A Bloomberg report on Wednesday claimed that Binance app downloads in India jumped to 429,000 in August, the highest this year. This comes just months after the country implemented stringent taxation on local exchanges. Binance’s India Gains Binance is the only one among the major exchanges whose app downloads had seen an increase in August over July, the month when 1% transaction tax in the form of TDS kicked in, a Bloomberg report said, quoting data from Sensor Tower, which...

CoinSwitch Kuber’s CEO Ashish Singhal on Saturday provided more details about the searches at his office and residence by India’s financial crime investigating agency the directorate of enforcement (ED), two days ago. He refuted the recent allegations that his firm has been investigated for certain illicit activities. CoinSwitch CEO Explains In a Twitter thread, Singhal explained that the ED’s searches were not linked to any investigation related to the Prevention of Money...

Early this week, KuCoin released a survey regarding the new developments in India’s blockchain and crypto space – Into The Cryptoverse Report India, which revealed the number of crypto investors in the country to be in the range of 115 million as of June 2022. These people have either traded or held crypto assets in the past six months, the study claimed. Crypto Investors Have a Youthful Profile The KuCoin’s India survey presents a cheerful crypto investment landscape in the...

India’s Directorate of Enforcement (ED) on Thursday conducted searches at the offices and residences of CoinSwitch Kuber as well as its CEO and directors. The financial crime investigating agency is reportedly investigating a possible violation of the Foreign Exchange Maintenance Act (FEMA). The searches were carried out after the ED officials found that the top executives of CoinSwtich Kuber, an India-focused a16z-backed crypto exchange, were not cooperating with the...

A group of leading Indian blockchain influencers with expertise in trading, NFT, Metaverse, cybercrime, etc., recently announced the formation of the India Blockchain Forum (IBF). The event at Hyderabad in India’s Telangana state was attended by the state government’s principal secretary for industry, commerce, and information technology, Jayesh Ranjan, said media reports. Hyderabad is India’s second largest tech hub after Bengaluru. IBF to Adopt Collaborative Model The...

The Internet and Mobile Association of India (IAMAI) has released a statement saying that its Blockchain and Crypto Council (BACC) is now fully dissolved. Apparently, blockchain isn’t that big of a deal within the country. The BACC in India Is Dissolving The BACC was first established in 2017. Things appeared to be booming throughout the last four years, but now that the crypto space is experiencing its harshest bull market to date, regulators have decided that the BACC...

Rockefeller International managing director and chairman Ruchir Sharma thinks bitcoin is going to endure a serious comeback in the coming months. Ruchir Sharma on the Future of BTC At the time of writing, bitcoin is enduring one of the worst bear markets in history. The world’s number one digital currency by market cap shot up to roughly $68,000 per unit last November, thus achieving a new all-time high. However, the asset has since fallen by more than 70 percent and is...