Odisha EOW Busts Crypto Scam: Mastermind and Associate Remanded

Bhubaneswar: Economic Offences Wing (EOW) of Odisha Crime Branch arrested Gurtej Singh Siddhu, the mastermind behind the ‘STA Crypto token’ business, and his associate Nirod Das in Odisha.

The special OPID court granted a 2-day remand for them. STA, launched in September 2021, claimed to be a solar technology service using blockchain, but EOW found it to be an unauthorized Ponzi scheme. They used green energy and solar tech themes to mask their Crypto-Ponzi scam.

STA attracted over 2 lakh members pan India, with more than 10,000 from Odisha alone. The scheme targeted states like Punjab, Rajasthan, Bihar, Haryana, Delhi, Madhya Pradesh, Maharashtra, Odisha, and Assam.

The investigation began after intelligence about the crypto-based Ponzi scam operating in Odisha, especially in Bhadrak, Balasore, Bhubaneswar, Mayurbhanj, Jajpur, Kendrapada, and Keonjhar districts.

The EOW’s actions have shed light on the deceptive practices of STA Crypto, ensuring justice for the victims of this fraudulent scheme. Authorities urge the public to be cautious of such unauthorized investment opportunities and report suspicious activities promptly.

You might also like

Comments are closed.