By Jamie – Crypto Expert - 27/12/2021
As part of this announcement and protection to its citizens, it was presented that 14 of the 16 crypto fraud incidents, according to Shikha, were related to bitcoin investments and cryptocurrency trading.
Addl. Commissioner Shikha Goel, speaking on behalf of the Hyderabad city police, warned Indian residents about the different tactics that fraudsters employ to defraud large bitcoin purchases; illegal bank transfers, irrational investment possibilities and digital assets are among them.
They [fraudsters] ask for your Bitcoin information and the money is taken away after you put it in your wallet. At the same time, Goel advised against moving cryptocurrencies to unlawful private wallets in an event organised by the city police of Hyderabad, India.
Goel said in an interview with The Hindu that 14 of the 16 crypto fraud instances are linked to investing and trade. According to Goel, the scam artists persuade their victims to transfer their freshly acquired cryptos for a bigger profit.
"People have been robbed of 3.45 crore rupees (approximately $458,000) in their thirst for bigger returns on cryptocurrency investment," Goel said in addition to the interview.
Telangana's state government developed the India Blockchain Accelerator program to support early-stage Web 2.0 and Web 3.0 firms, as well as blockchain engineers. As a result, India's blockchain is being accelerated and interest in crypto buying platforms continue to gather momentum.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards