Law enforcement officials in Himachal Pradesh are pushing to tighten security around the digital assets sector. The state’s Special Investigation Team (SIT) has teamed up with Liminal Custody Solutions. In recent weeks, the Himachal Pradesh SIT conducted several raids in different parts of the Himalayan state, investigating clues that indicated an ongoing scam related to crypto assets in the region. After several rounds of investigation and several arrests, the investigating officers have decided to ensure that such incidents do not happen again.
The collaboration between Liminal and Himachal Pradesh SIT began in September, details of which are only now being officially disclosed. Liminal, as part of its work, helped the investigation team deal with the complexities of dealing with illicit crypto assets.
“Recognizing the complex nature of this emerging domain, we take on the important responsibility of guiding and assisting law enforcement agencies at every level while maintaining the most stringent security protocols,” Manan Vora, senior vice president of strategy and business operations at Liminal, said in an official release. Let’s fulfill it.” statement.
Himachal Pradesh SIT also availed the services of this Singapore-based Web3 firm for creating separate wallets as well as facilitating transfer of assets as per the instructions of the SIT. For Liminal, this marked the beginning of its involvement in India’s law enforcement operations. Abhishek Dular, DIG, Northern Range, Himachal Pradesh, praised Web3 company for its prompt help in exposing the scam.
“Their unwavering commitment to supporting law enforcement, stringent internal controls over seized digital assets, and their secure wallet solutions were instrumental in our success,” Dular said.
The SIT investigation into the matter has reportedly revealed that at least one lakh people have been defrauded and 2.5 lakh IDs have been recovered, including multiple IDs of the same person.
According to investigating officials, the scammers lured the victims by promising good returns in a short period of time. Three to four types of cryptocurrencies were used and fake websites were created that manipulated and inflated the price of cryptocurrencies.
Earlier, two main accused Sukhdev and Hemraj were caught in Gujarat. However, Subhash, the alleged mastermind of the scam, is still absconding and is believed to be hiding in Dubai.
(TagstoTranslate)Himachal Pradesh Special Investigation Team boosts digital asset security teams, Liminal Cryptocurrency