WazirX facing fraud probe in India, Chinese boomers falling for crypto tapper scams

From Cointelegraph

August 8, 2024 07:06:03 PM:

WazirX, a popular Indian cryptocurrency exchange, is facing a fraud probe and having its assets frozen by Indian authorities. This comes amid increased regulatory scrutiny on the cryptocurrency industry in the country.

China is seeing a rising trend of elderly individuals joining crypto tapper cults, which promise high returns on investments. These cults are exploiting vulnerable seniors through misleading information and promises of quick wealth. Authorities are warning the public to be cautious and avoid falling for these scams.

Do Kwon, the co-founder of Terraform Labs and creator of the Terra cryptocurrency, has had his flight home delayed again. Kwon was previously held for questioning by US authorities regarding potential violations of financial regulations. This latest delay further complicates his legal situation.

Read more at Cointelegraph: Chinese boomers joining crypto tapper cults, WazirX fallout worsens: Asia Express