Latest news with #USDT
Time of India
21 hours ago
- Business
- Time of India
Retired Lt Colonel and another man duped of 60 lakh in investment and banking scams
New Delhi: Two men, including a retired Lieutenant Colonel, were duped of Rs 60 lakh in two separate cases. Police arrested three suspects, and in one of the cases, the accused were found to be in contact with Chinese nationals. In the first case, a retired Lieutenant Colonel was duped of Rs 45 lakh under the pretext of an investment opportunity. Police arrested two men with alleged links to Chinese nationals. The accused were identified as Rahim Khan (24) and Indra Kumar Sahani (36). "Sahani was arrested in Ahmedabad, and based on his information, the other accused was apprehended," police added. The complainant informed the police that he was introduced to an online digital gold trading website by someone on WhatsApp. "Initially, the money was deposited into various bank accounts provided by the fraudsters. It was then converted into US dollars at a fixed rate of Rs 80 per dollar. The equivalent amount was shown credited to his account on the alleged trading website and used for trading," police said. The complainant continued trading, and his purported profits grew to Rs 1 crore. However, when he attempted to withdraw some of the profits, he realised he had been deceived. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo DCP (Southwest) Surendra Choudhary stated that Indra Kumar Sahani initially opened a bank account and provided it to the accused. After seeing the profits, he opened nine more current accounts, which he sold for a commission. He then handed over his account to co-accused Rahim Khan, who facilitated and managed mule account holders in Ahmedabad. Khan also contacted international operators via an app. "He was in contact with Chinese nationals through a social media application," police said. The accused reportedly received their commission in USDT from these Chinese nationals.
Time of India
a day ago
- Time of India
Retired army colonel duped of Rs 41 lakh in digital gold scam; two arrested with alleged Chinese links
NEW DELHI: Two men running a cyber fraud network with alleged links to Chinese nationals have been arrested for cheating a retired Army colonel of Rs 41.45 lakh through a fake digital gold trading scheme, Delhi Police said on Saturday. Tired of too many ads? go ad free now The accused, Indra Kumar Sahani (36) and Rahim Khan (24), were operating out of Ahmedabad and used a sophisticated setup involving mule bank accounts, SIM cards, and cryptocurrency transfers to move the scammed money overseas. Fake platform, big returns, and a Rs 31 lakh 'tax' The case came to light when the victim, a retired colonel from Vasant Kunj, approached police after realizing he had been conned. He was contacted on social media and lured into investing in a fake online trading platform that promised high returns on digital gold traded in dollars. After an initial investment, his fake account showed rapid profits. Encouraged, he kept depositing money, eventually transferring Rs 41.45 lakh, believing his earnings had grown to Rs 1 crore. But when he tried to withdraw, the platform demanded another Rs 31.5 lakh as 'taxes' before releasing the funds. That's when he suspected fraud. Network traced to Ahmedabad Deputy Commissioner of Police (Southwest) Surendra Choudhary said Khan was in contact with Chinese handlers through a messaging app and coordinated with account holders from across India. These individuals were brought to hotel rooms in Ahmedabad, where Khan ran the fraud operation. He would install specific apps on mobile devices linked to SIMs registered with the mule accounts. These apps gave foreign scammers remote access to carry out fund transfers, police said. The fraud proceeds were converted into USDT (a cryptocurrency) and moved abroad, helping evade Indian enforcement agencies. Two arrests, phones seized Police traced the digital trail to Ahmedabad and conducted a raid at a hotel, arresting Sahani. Tired of too many ads? go ad free now Three smartphones with incriminating material were recovered. Based on his interrogation, Khan was arrested and two more phones were seized. Police said Sahani initially opened a personal bank account but eventually opened nine current accounts and sold access to them to the racket in exchange for commission. The arrests, police said, have helped expose a wider cyber fraud network with transnational links. An investigation is on to identify more victims and collaborators.
Time of India
a day ago
- Time of India
Two held for Rs 41.45 lakh cyber fraud on retired army officer; Chinese nexus busted
Two fraudsters with alleged Chinese links were arrested in southwest Delhi for duping a retired army officer of Rs 41.45 lakh on the pretext of high returns through digital gold trading , officials on Saturday said. The duo, identified as Indra Kumar Sahani (36) and Rahim Khan (24), ran a multi-layered cyber fraud operation, sourcing mule bank accounts and facilitating fund transfers to foreign handlers, they said. Deputy Commissioner of Police (DCP), Southwest, Surendra Choudhary, said that "Rahim Khan, the alleged key operator, was in contact with the Chinese nationals via a messaging application". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade gold CFDs with a trusted broker | Open an account today. IC Markets Sign Up Undo "He coordinated with account holders from across India, bringing them to hotel rooms in Ahmedabad where he operated the fraud network," the DCP added. Choudhary said that Khan installed specific apps on devices linked to SIM cards registered with the bank accounts, giving foreign-based scammers remote access to the accounts for illicit fund transfers. Live Events The fraud proceeds were allegedly converted into USDT , a cryptocurrency, and transferred abroad, evading the Indian enforcement agencies, he added. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The DCP said that the case came to light when the complainant, a retired colonel residing in Vasant Kunj, was lured into investing via a fake online trading platform. "He was contacted on social media, where he was promised significant returns through gold trading in dollars. After initial deposits, his account on the fake site showed rapid profit accumulation, leading to further investments," he added. The senior police officer further said the complainant invested Rs 41.45 lakh in total, believing his returns had grown to Rs 1 crore. But when he attempted to withdraw his earnings, he was instead asked to pay Rs 31.5 lakh more as taxes before the funds could be released, said the DCP, adding he then realized that he had been defrauded. Based on the complaint, a case under relevant sections of the BNS was registered, police said. The digital footprint of the accused was traced to Gujarat's Ahmedabad city, they said. A raid was conducted at a hotel in Ahmedabad, leading to Sahani's arrest and three smartphones with incriminating materials were recovered from him, police said. Based on Sahani's interrogation, the second accused Khan was arrested and two more phones were seized from his possession, they said. Sahani initially opened a personal account, but he went on to open nine more current accounts seeing the financial benefits and sold them to the racket for commission, police said. The case has helped crack a broader network of cyber fraudsters and account operators with transnational links, they said. Further investigation is on to identify more victims and collaborators, police said.
Yahoo
a day ago
- Business
- Yahoo
Kast is turning stablecoins into real banking—without the crypto headaches
Kast is turning stablecoins into real banking—without the crypto headaches originally appeared on TheStreet. In a world where traditional banking often fails to keep up, Kast is building something different—something built for the internet age. By using stablecoins instead of local currency, Kast delivers a seamless, banking-like experience that's fast, global, and built for people tired of dealing with outdated financial systems. Sam Kerrins, COO and part of the founding team, says the mission is simple: give people everything they expect from a bank—but powered by blockchain. Kerrins has been in the stablecoin world long before it went mainstream. 'I started my career in accounting, then moved into a cryptocurrency trading role in about 2019,' Kerrins explained. 'I was dealing in stablecoins before it became cool, focusing on moving money from Asia into Australia via stablecoins.' That early experience led to Kast, where Kerrins has spent the past 18 months helping build the platform. 'We want to give our users the ability to do everything they're currently doing in their old legacy bank, but also give them access to blockchain and stablecoin technology,' he said. Kast serves a wide range of users, but three key groups stand out. First: people already working 'on-chain.' These are freelancers, contractors, and businesses getting paid in stablecoins like USDT or USDC. 'They can get paid into the Kast app directly, leave their balance in Kast, and use our card to spend and off-ramp as needed,' Kerrins said. The second group: users in emerging markets, where local currencies often collapse due to inflation or instability. 'In many countries, their currency is being devalued upwards of 100% year-on-year,' Kerrins said. 'For them to move their local currency into Kast and hold stablecoins, it gives them the ability to hold a US dollar currency rather than their local currency.' Finally, there are crypto traders—those looking to spend profits (or manage losses) from trading assets like Bitcoin, Ethereum, or Solana. Kast makes it easy for them to bridge back to everyday money. Kast's biggest value? Making stablecoins simple for everyday users—especially in countries where access to dollars is hard. 'It might take days, it could be complex. They've got to on-ramp to a local exchange, learn how to use an order book,' Kerrins explained. 'That's fine for someone who's been around crypto for years, but many users who would benefit from our products don't understand cryptocurrency.' Kast fixes that by offering a banking-like experience that feels familiar—even to someone who's never used crypto before. 'If we can remove all the friction, then we become very attractive to what could be two to three billion people,' Kerrins said. Right now, Kast is focused on individuals—but that won't be forever. 'At the moment, we're offering our product to individual consumers and not companies yet,' Kerrins clarified. 'We'll look to roll that out in the future.' Their current goal? Nail the retail experience. Build a product that works for both crypto-native users and complete newcomers. 'It's a nice solution that isn't just meme coins,' Kerrins noted. For users ready to try Kast, the app is already live. 'Our app is on the App Store and the Android store,' Kerrins said. The team is also building infrastructure to let people convert local currency into stablecoins—quickly, easily, and without needing to understand crypto. 'If we can put in frictionless on-ramping, then we believe we'll rapidly scale because the product will sell itself,' he added. Kast is more than a wallet—it's a financial platform for a new era. With a focus on US dollar-backed stablecoins, an easy-to-use interface, and a clear mission, it's already helping users take control of their money in places where banks fall short. For Kerrins, the goal is big—but clear: to deliver stable financial tools that anyone, anywhere can use. Kast may still be early—but with momentum building and a product that solves real problems, it's one of the most practical blockchain plays in fintech today. Kast is turning stablecoins into real banking—without the crypto headaches first appeared on TheStreet on May 31, 2025 This story was originally reported by TheStreet on May 31, 2025, where it first appeared. Sign in to access your portfolio
a day ago
- Business
野村元農相、小泉氏に苦言 「自民部会諮らず発表」
NKN is the new kind of P2P network connectivity protocol & ecosystem powered by a novel public blockchain. NKN uses economic incentives to motivate Internet users to share network connection and utilize unused bandwidth to provide a decentralized data transmission network that can be used to build applications that requires real time data transmission, message delivery, content distribution, etc. NKN's open, efficient, and robust network infrastructure enables application developers to build the decentralized Internet so everyone can enjoy secure, low cost, and universally accessible connectivity. The main use cases for NKN are networking focused applications. For example: nCDN (new kind of Content Delivery Network) for faster video streaming; PubSub for chat/IM, IoT data streaming and control, real-time price info. NazwaNKN PozycjaNo.797 Kapitalizacja rynkowa$0.00 W pełni rozwodniona kapitalizacja rynkowa$0.00 Udział w rynku% Wolumen obrotu/kapitalizacja rynkowa (24 godz.)1.62% Podaż w obiegu788,303,858.8102052 Maksymalna podaż1,000,000,000 Całkowita podaż788,303,858.8102052 Wskaźnik obrotu0.7883% Data wydania2018-05-28 00:00:00 Cena po jakiej aktywo zostało pierwotnie wyemitowane0.0024 USDT Historyczne maksimum1.48332395,2021-04-09 Najniższa cena0.00641054097117,2020-03-13 Publiczny blockchainETH WprowadzenieNKN is the new kind of P2P network connectivity protocol & ecosystem powered by a novel public blockchain. NKN uses economic incentives to motivate Internet users to share network connection and utilize unused bandwidth to provide a decentralized data transmission network that can be used to build applications that requires real time data transmission, message delivery, content distribution, etc. NKN's open, efficient, and robust network infrastructure enables application developers to build the decentralized Internet so everyone can enjoy secure, low cost, and universally accessible connectivity. The main use cases for NKN are networking focused applications. For example: nCDN (new kind of Content Delivery Network) for faster video streaming; PubSub for chat/IM, IoT data streaming and control, real-time price info. Sektor Media społecznościowe Telegram Twitter Discord Reddit Biała Księga Oficjalna strona internetowa Block Explorer etfindex:mc_etfindex_sourceZastrzeżenie: Dane dostarcza cmc i nie należy ich traktować jako porady inwestycyjnej.
