Thursday, September 21, 2017
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Indian Card Scam (Ab)uses Bitcoin

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An general crime associate that siphoned income from ATM machines around cloned withdraw and credit cards was destitute by authorities in India. Investigations suggested that a stolen income was converted to bitcoin before being diluted to members of a crime syndicate.

An general crime pole involving pivotal members in India and a United Arab Emirates was destitute by Indian authorities. The rapist activity saw cloned cards hidden income from ATMs in several locations opposite India, a Times of India reports.

Eventually, a stolen income was converted to bitcoin before being eliminated to a kingpin of a operation in Dubai, where a purported kingpin – ‘Sheikh’, substituted a bitcoins behind to a internal currency.

Incidentally, one of a indicted members of a operation was a operations manager of a distinguished bitcoin sell in India.

The Racket

The crime associate operated in several states opposite India by regulating a cloned cards to siphon income out of victims’ accounts. While questioning a crime, an early detain suggested that a operators used over 20 cloned cards in


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