GuShiio.com Indian authorities seized nearly $190 million in cryptocurrency while investigating the Bitconnect Ponzi scheme. The scam was cracked in 2018 and caused losses of approximately US$2.4 billion to 4,000 investors in 95 countries around the world. Bitconnect was launched in 2016 and closed in 2018. Founder Satish Kumbhani was charged by the U.S. Department of Justice in 2022 on suspicion of fraud. At the same time, the Indian Law Enforcement Agency arrested a man named Shailesh Babulal Bhatt on suspicion of kidnapping and extortion in a $144 million cryptocurrency crime. Bhatt invested in Bitconnect and demanded bitcoin, litecoin and cash by kidnapping Kumbhani employees.（Cointelegraph）
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