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Delhi Police's Crime Branch has busted a gang which has allegedly made a fortune, duping people promising them to sell bitcoins.

One person, identified as Narender alias Sonu Dahiya, was arrested in Rithala, on Wednesday, on charges of defrauding thousands of people.
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“The arrested accused, Narender, is a resident of Sonipat in Haryana. Police said that with Narender’s arrest, the role of seven to eight more persons is under the radar of the police team," Joint Commissioner of Police (Crime) Alok Kumar said.
Police said the gang lured people to investing in a newly-launched cryptocurrency, called "Kashhcoin".

According to Arun Kumar, the original complainant in the case, who was cheated to the tune of Rs 13.90 lakh by the gang, he bought the newly launched cryptocurrency at a rate of Rs 3.50 per coin and was promised a huge profit.
During the investigation, some more complainants were received.
The investigators also found that the accused had organised seminars in different places including Nepal, Mumbai, Gujarat, Chandigarh, Raipur and Nagpur for business promotion, looking for potential victims.
How Kashhcoin gang operated
Delhi police said Narender who had a multi-level marketing background used the same tactics for his Kashhcoin scheme. The gang had formed a website and using social media platforms to approach investors.