2nd Unocoin Founder Arrested By CCB + Indian Media Misreporting & FUD
Unocoin's 2nd co-founder, 'Sathvik Vishwanath' has been arrested by the Cyber Crime Branch (CCB) close on the heels of its co-founder Harish BV.
They have so far recovered two-laptops, Unocoin's kiosk, mobile phone and a crypto device in the first arrest and have seized a laptop and mobile phone during the 2nd arrest.
Indian media loves sensationalism and most of the news is projected in the same manner. Despite the facts being clear, media outlets such as TOI have repeatedly called Unocoin's cash dispensing machine as 'Bitcoin ATM.'
According to the TOI sensationalist article:
DCP (crime) S Girish said the RBI has stated that cryptocurrencies are illegal. The kiosk, police said, was a platform for bitcoin buyers and sellers and hence, illegal. They suspect Viswanath has destroyed evidence — online transaction trails and customers’ details — stored in the laptops.
The Unocoin founders were booked under IT Act section 66 (computer-related offences) and IPC sections 120b (criminal conspiracy), 420 (cheating), 465 (forgery), 474 (possession of forged documents) and 471 (fraudulently using forged documents).
Now the funny part is that even the police in this case are under the impression that cryptocurrencies are illegal. They are not illegal. However, the law makers and upholders remain clueless. Media which is supposed to be writing factual news is mis-reporting.
In the past some of us in the crypto community in India were aware of Unocoin's employees being threatened by the police, CBI, IT-Dept and other government agencies. It seems Unocoin's PR move to install the kiosk gave the Indian media as well as the CCB an intent to launch another anti-crypto drive.
However, here's the most recent update from Sathvik:
I will update more on this as we go. However, at this point it's extremely hard to trust Indian media with any cryptocurrency related reports. They are doing more bad than good to the growth of cryptocurrencies in India.
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Thanks firepower sir, for sharing update.
ये तो होना ही था, क्योंकि यहां की राजनीति और मीडिया थोड़ी पागल किस्म की है, अपने आगे किसी को कुछ भी नहीं समझते है. और इन लोगों ने तो RBI का मजाक बना दिया था.
ये unocoin वाले चाहे कितने भी समझदार हो, परन्तु ये राजनीति और मीडिया बहुत ही ख़राब किस्म के है और जनता तो जनार्दन है ही.
Well said as main stream media is really a thrash they try to promote news is a different way but more or less i am 1000% sure no one can stop bitcoin and that's the fact.
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It's a way of government to censor cryptocurrency...
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The government should be grateful for the development of cryptocurrencies, because the development of community cryptocurrencies will be helped in terms of economic growth.
Thank you for the news update
@firepower, Yes, in my opinion, in most of the cases how the Mainstream Media presenting, actually twist the whole story. And for sure these kind of news directly impacting on the Emotions of Cryptocurrency Holders because in my opinion when there is no clarity, there is an fear of born of own definitions and clarity. And when we are watching that world is taking some effective and positive steps towards the Cryptocurrency Economy hear we are trying to suppress one Initiative which came up with something unique. And in my opinion nowadays it's really unfortunate to watch the news because they are just interested in Politics 24/7 and they continue that discussions time after time, and aspects which are truly related to the Growth aspects are misinterpreted. Let's hope for the best.
Wishing you an great day and stay blessed. 🙂
Definitely it is not a good news for us,but the mainstream media every time has been misled people by its wrong info.But though we have to face lots of hardships,the final verdict of sp will be rescue us.Thanks for the updates,wish you a beautiful time ahead my dear star of india.
It seems like media trials is very acceptable in India than supreme Court judgement. It is totally injustice because case is pending in Apex court.
https://get.cryptobrowser.site/landing/5/3096177
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