Police to Bust Another Alleged Indian Crypto Scam

The police suspect the project of international fraud, as well as deceiving investors by promising high incomes, real estate and even foreign passports
06 June 2018   817

The police of the Indian city of Thana searched the offices of the multi-million-dollar fraudulent crypto project Money Trade Coin (MTC). According to his promoters, it "provides a safer, more secure and superior alternative of storing wealth in the form of digital currency, to investors as well as commoners." The police suspect the project of international fraud, as well as deceiving investors by promising high incomes, real estate and foreign passports. This is reported by Bitcoin.com.

On its website, MTC is described as intellectual property jointly developed by the Dubai-based Bitcoin Global FZE and the British firm Money Trade Coin Ltd. Director of Money Trade Coin Ltd is Amit M. Lahanpal (he is also one of the key employees of Bitcoin Global FZE and the managing director of the Indian company Flintstone Group). On Monday, two people were detained, but Lahanpal was reportedly still at large - police believe he could even leave India.

The Flintstone office in Thana has 20 employees, while the other office of the company, which is located in Vikrohli, a suburb of Mumbai, employs 50 people. An investigation into this case began when a local businessman complained that he and his colleagues could not get a response from the company about the funds invested in it.

He may have even invested in a Bollywood film featuring a major male star, but we are verifying this. Pal and his associates promised investors a 20-times return on investment in a mere six months. But once the deadline passed, the company made several excused to not release the money. A few days ago, some investors even went to Dubai to meet Lakhanpal, but they were allegedly threatened, and were told that they should not ask for their money. We also found that Lakhanpal had never constructed any building, even though he claimed to run a real estate company.

Senior police officer, City of Thana

Police say that the company of Lahanpal used his joint photos with "leading politicians" in order to impress their victims. 

Diffusion 2019 to Gather Crypto Hackers in Berlin

World most interesting tokenised protocol teams joined forces to create one of the biggest devconf in the world
20 September 2019   103

19th-20th October 2019, Berlin, one of the IT capitals of the world, will gather representatives of blockchain, AI, IoT and Big Data industries across the globe. 350 developers are going to test their skills, by hacking with 25m+ lines of open source code. Thousand of prizes awaits the winners.

This two-day event will focus on the practical application of open-source distributed ledger technology, smart contracts, machine learning and programmable tokens, to create a new data layer.


Diffusion 2019 Attendants
Diffusion 2019 Attendants

The conference will last for two days and is focused on the practical usage of open-source blockchain technology, machine learning, programmable tokens and smart contracts with a goal to create a new data layer. 

If you are not a skilled programmer, you will find what to do, Join panels, chats, workshops. Discuss the latest topics, such as token economics, blockchain for enterprise, AI, deep learning and more. Whether you are a dev, work in IT or tech industry, geek or just interested all that new - this is a place for you. You will be able to discuss things and share knowledge with lead developers, professors, start-upers and CEOs.

Part of Diffusion 2019 Attendants
Part of Diffusion 2019 Attendants

The event will take place at the Factory Berlin.

Hype.Codes team is happy to report that our journalist is going to the Diffusion 2019 too! Anton will provide you, our dear readers, with the freshest news and announces straight from the Factory.

Also, check out the latest conference's partnership with ETHBerlin.

And now the most interesting thing. You will be able to to take part in a hackathon for free!

Apply for free place at Hackaton now!

Not a coder, but still want to attend an event? 

Get your ticket here!