Indian court rejects bail application for cryptocurrency scam promoter

According to The Crypto Times, the High Court of Himachal Pradesh in India has rejected Abhishek Sharma's bail application. Sharma is suspected of participating in a cryptocurrency MLM scam involving over 80000 investors, resulting in a loss of approximately 500 million rupees and an investment pool size of 2 billion rupees. The scam utilized fake platforms such as Korvio, Voscrow, DGT, Hypenext, and A-Global, promising to double returns and attract investors with early payments of small profits. However, payments were stopped from December 25, 2021, and users were directed to other platforms, ultimately resulting in unpaid returns.