![]() ![]() ![]() This offer played a major role in bringing more investors to the company.” KBC coins were reportedly issued at 10 paisas apiece, with the promise that they would skyrocket in value to 10 rupees in a short time - a 100-fold return on investment.Īccording to a CID member, an individual named Baljeetsingh Lashkariya promoted KBC via a pyramid scheme, saying that the “first investor in the chain would get an incentive from the last circle of investors. KBC reportedly launched 6 months ago, and its price has not moved since. ![]() The Criminal Investigation Department (CID) of India has arrested Vijay Prajapati, Dhiraj Patel, Kamruddin Syed, and Ashiq Shaikh, the alleged creators of the cryptocurrency KBC Coin, according to a report by The Times of India on July 4.Īs per the report, the CID argues that KBC is a Ponzi Scheme.
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