The Economic Offence Wing of Delhi Police has launched a probe against the operator of Pluto Exchange. This action has been taken after around 43 investors have filed a complaint with the Economic Offence Wing (EOW). It was reported earlier that Pluto Exchange is accused of deceiving around 43 investors which is worth more than $272,000.
The accused Bharat Verma, the founder of Pluto Exchange, was allegedly involved in an investment scheme where they defrauded investors by claiming that they are running crypto trading and mining operations under F2poolminin.
Delhi Police Claims That Accused Promised an Added Commission
Among the 43 investors, Joginder Kumar has claimed that he met the Pluto Exchange operators in Delhi. He was told about an investment scheme that offered around 20 to 30 percent return every month. According to the statement by Delhi Police, it is revealed that the accused had also promised an added commission to Kumar if he brought along more investors for this scheme.
Kumar has also told Delhi Police that when he did not receive any return for the amount that he invested, he asked the operator of the exchange for the same. Verma had then explained this by saying that a lot of bank accounts of the exchange had been seized and the Bitcoin price drop created several consequences due to which they will not be able to pay any returns to the investors.
Pluto Exchange Shifted Offices From India To Dubai
It is also revealed that Pluto Exchange had shifted its offices from India to Dubai. Kumar has also claimed that the director of Pluto Exchange has managed to collect more than $6.8 million for crypto businesses. Over the past some time it has been seen that the crypto scams are increasing at a very rapid rate. A lot of scams are also targeting Indian investors as in between 2017 and 2019, they have lost around $500 million of funds to such scams.