India & Pakistan Witness Rising Tide In Crypto Frauds Cases

Crypto has made its way into the Indian economy years before it started to spread its roots in Pakistan. Yet, at the present moment, both countries have been witnessing the development of huge interests of their nationalists towards crypto assets. However, the two traditional rival neighbors are facing a very common problem in the pursuit of their adoption of cryptocurrencies.

The investors in the two countries have come to believe that when the offer is too good then they shouldn’t take it. Instead, they should move on and find some balanced option of investing in crypto.

Indians and Pakistan have various similarities. One similarity they share is that people living in the two countries want to become rich overnight. Then there are people in India and Pakistan who wish to have decent incomes for taking care of their families and themselves. However, there is nothing wrong with the two categories.

But there is a third kind of people there. People in the third category want to make their livings at the cost of others. They are poised with the aim to victimize those seeking decent incomes and those who wish to become rich overnight.

The people, forming part of categories one and two, are easy targets for the people in the third category. Resultantly, both countries have been witnessing a rising tide in the number of crypto crimes subsequently.

Most recently in Pakistan, a case involving crypto fraud was brought before a Court in which the alleged fraudster was a qualified doctor. The Court found out that the doctor gave promising offers of crypto investments that seemed to be unrealistic. However, the doctor succeeded in convincing the people to take the bait and Pakistanis gave him the money. The doctor then committed fraud.

Similarly, there is a large number of active and inactive crypto fraud schemes in India. It is said that it is hard to fool an Indian in terms of technology and innovation. However, it has been seen that Indians are easily becoming prey to crypto frauds committed by people from and amongst them.

Many of the Indian victims of crypto fraud complained that firstly they doubted, but considering promising returns, they erred in their judgments. Though they have learned their lesson that when an offer seems to be unrealistically good, then they must not take it.

However, still, there is a vast majority of the first two category people in the two neighboring countries. They haven’t learned the lesson from others’ mistakes. It seems that their wishes have overpowered their conscious and even if they are doubtful, they gladly take the offer.

One thing is for sure though that neither Pakistanis nor Indian can run away from cryptocurrencies. But someone, from both sides, will have to take the responsibility of making people aware of how they can identify crypto fraud.