Last updated on May 13th, 2023 at 11:32 am
A centralized financial investment firm, crypto world trading Net, conducts business in the cryptocurrency industry with the fullest confidence. With the support of a centralized exchange board, it deals in the buying, selling, and exchange of money. CryptoWorldTrading.net is the official website of the business.
People from all walks of life, including rickshaw drivers and business tycoons, are keen to invest their money in the stock market right now in the hopes of generating a profit.
Although investing in the stock market can be profitable, there are risks involved. The swindle perpetrated by Vikas Kalda, who lives in Ambala, Haryana State, India, is one recent illustration of this.
Using a company called Crypto World Trading Net, Kalda defrauded people from all walks of life, including the wealthy and the poor, of their hard-earned money. After convincing them that he could triple their investments through the Crypto World Trading Net Company in just five months, he vanished with more than 250 crores of people's money.
What is Crypto World Trading Net?
Crypto World Trading Net is a website that offers cryptocurrency trading services. It allows users to trade various cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and more. The website claims to provide fast and secure trading services with low fees. Users can create an account on the website, deposit funds, and start trading cryptocurrencies. However, it is important to note that trading cryptocurrencies can be risky and users should be cautious before investing their money. It is always recommended to do thorough research and consult with financial advisors before making any investment decisions.
What was the plan to bring in additional investors?
Vikas Kalda, an Indian from the Haryana province's Ambala area, used a ruse to entice more investors to the Crypto World Trading Net Company. With a starting price of just 8,000, he persuaded people to invest their money in the business, which he represented as India's best platform for trading cryptocurrencies.
By promising to treble their money through the Crypto World Trading Net Company within five months, Kalda took advantage of people's faith. His plan to attract more investors included doing this.
Vikas Kalda promised to triple investors' investments within five months in order to entice additional money into his business. As a result, he served as the conduit for hundreds of investors in the Crypto World Trading Net Company. Unfortunately, Vikas Kalda and his family stole more than 250 crores from investors, defrauding both wealthy and low-income individuals.
The Crypto World Trading Net The company had been used as a cover for this fraudulent operation for a number of months.
How many investors are there, and from which area?
Investors are now helping the police determine the scope of the fraud as part of the investigation into the scam perpetrated by Vikas Kalra. More than 140 investors from Haryana, India, invested more than 100,000 rupees.
A substantial number of people invested in the plan with a minimum of 8,000 rupees, according to the police's investigation. The majority of these investors are from Ambala, and some are from various Haryana districts.
The police have been given a list of investors' identities, the sums they invested, their cell phones, and their addresses. This list demonstrates how Vikas Kalda defrauded hundreds of people by pretending to be a Crypto World Trading Net Company. Although only 140 victims' names are currently known, it's likely that many more people have been impacted.
The names of some investors who have invested more than 1 lakh are as follows;
|Investor’s Name||Investing Amount in Rupees (₹)|
|Nirmal Singh||13 Lakh|
|Abhishek Luthra||8 Lakh|
|Shubham Luthra||4.50 Lakh|
|Ankush & Manish||Both are invested 2-2 Lakh|
|Anjali Kalda||8 Lakh|
|Mukesh Sachdeva||4 Lakh|
|Tarun Thareja||5 Lakh|
|Ramgopal & Gagan Kalda||Both are invested 4-4 Lakh|
|Surbhi, Shivam, Yogesh Anand, Nita Rani, Gurvir||They all invested approx 80,000 Rs.|
|Nitin Dhiman||6.40 Lakh|
|Rupa Vasisath||2.40 Lakh|
|Hira Lal & Ashutosh||Both are invested 40,000 Rs.|
|Avtar Sanwan||10 Lakh|
|Gurcharan & Harsh||Both are invested 5-5 Lakh|
Apart from these, there are some other investors whose money has been cheated. All these investors’ names are Sanju who invested 1.50 Lakh, Ravi Kumar invested 5.80 Lakh, Sukhvinder, Dipak, Manish Saini, Sipali Kansal, Deep Singh, etc.
Source : https://www.pacllatestnews.com/crypto-world-trading-company-scam/
How did the Crypto World Trading Net company make a fool of investors?
Leader in the cryptocurrency trading industry Vikas Kalda has been charged with defrauding customers through his business. Police have received reports from investors alleging that the company deceived them.
An investor ID in the company's name has to be created with a minimum investment of 8,000 rupees at Kalda's company. Following that, depending on their investment amount, investors could anticipate receiving at least $2 per week on the Crypto World Trading Net Company app. Investors could get payouts on weekdays, and the cost of a dollar was roughly 80,000 rupees.
Significant gains were promised to investors within five months of their initial investment. For instance, investing 8,000 rupees a week might yield up to 3,200 rupees in profits per month. Investors were instructed to deliver the dollars they had been paid to a representative who would exchange them for rupees and give a record of the transaction.
Various dollar rates were promised for investments of 16, 24, 32, 40, 48, and 100,000 rupees, among other investment amounts. Investors were informed that by making a 40,000 rupee investment, they may earn up to 96,000 rupees in five months.
Kalda allegedly approached prospective investors in their homes, stores, and markets to discuss investment options with his company. The swindle has now been reported to the police by investors, though.
Where is the Crypto World Trading Net CEO currently hiding?
Vikas Kalda, the CEO of Crypto World Trading Company, is currently running from the law. Up until 2022, he will be in charge of carrying out the biggest fraud in Haryana's Ambala district.
The Economic Offences Branch is collaborating with Jashandeep Singh Randhawa, the SP of Ambala, in addition to the neighbourhood police, to find Kalda. The 300 crore fraud is the subject of an ongoing inquiry.
Many people who invested their hard-earned money feel absolutely betrayed as a result of the hoax. Four alleged collaborators are thought to have helped Kalda carry out the plan.
Indians continue to trust these types of schemes, but how and why?
A website called Crypto World Exchange provides services for exchanging cryptocurrencies. Users can trade a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others. The website makes the claim that it offers low-cost, quick, and secure trading services. On the website, users may open an account, add money, and begin trading cryptocurrencies. But it's important to remember that trading cryptocurrencies can be risky, so investors should exercise caution. Before making any investment decisions, it is usually advisable to conduct in-depth research and speak with financial advisors.
Before investing their hard-earned money, it is crucial that people educate themselves about investing and use caution. In order to safeguard customers from financial fraud, regulatory agencies must take action against fraudulent schemes.