Suspected in scam Ethereum Miners jailed by Indian Police

Indian police have checked an Ethereum mining set with its operators allegedly running MLM schemes that raked INR 100 crores ($15 million) from investors
09 May 2018   1396

The Cyber Cell unit of Delhi’s police structure has reportedly raided a 4,000 square-foot complex which was used for mining Ethereum’s token cryptocurrency ‘ether’ after its operators were captured on accusations of running multiple cryptocurrency-based multi-level marketing (MLM) schemes. The two persons engaged in mining operation are supposed to have conned several victims of over ₹ 100 crores (approx. $15 million) by offering them to invest in and, two purported investment schemes that promised returns in bitcoin. Both websites are now unavailable.

As the local media said, these proceeds were used to by Ethereum and finance a steadfast operation that included mining its token cryptocurrency. Police from the Indian capital inspected the 4,000 square-foot mining installation in Dehradun, a city north of Delhi, capturing 100 Ethereum mining rigs along with 500 graphics cards and servers.

We had already arrested the owners of the mining firm Kamal Singh and Vijay Kumar, 13 days ago. And, based on the further intel, we have now raided their mining firm in Dehradun. Kumar had lodged a complaint with the local police alleging that Alagh and his associates had kidnapped him. 
KPS Malhotra
Official, Delhi Police 

Also, the online petition filed by one of the victims against the operators of the alleged fraud a month ago displays additional details of the MLM scheme. The victim invested 0.1 BTC in July 2017 after the two operators pledged an income of 12% every month in bitcoin over an 18-month contract. The same victim was then suggested to involve in additional investors, which he did, to earn an additional 12% return every month for 18 months.

Delhi police have taken as well a local person involved in the mining operation as investigators look to define if the operators used additional mining equipment in other locations beyond what has been seized.

MetaMask App to be In Public Beta

The app is synchronized with the cryptowallet in the original browser extension allowing to register new addresses in a moment
24 July 2019   298

The developers of the MetaMask Ethereum wallet wallet have opened the way for everyone to test the beta version of a mobile application available for Android and iOS.

According to the developers, the application is synchronized with the cryptowallet in the initial browser extension. It also allows you to manage crypto-assets, send ETH users and ERC-20 and ERC-721 standard tokens using ENS names (Ethereum Name Service), and interact with decentralized applications (dApps).

In addition, the application supports InstaPay payment channels for instant and free transactions. It also implements Web3 functionality, support for IPFS and various solutions to ensure a high level of security.

The launch of the mobile application MetaMask was announced 9 months ago during the Devcon4 conference in Prague.