Lost money in Bitcoin, other cryptocurrencies? Police won't even lodge complaint

With the government and the regulatory authority taking a stand that cryptocurrencies were not legal, there was little hope for traders of recovery of their money, they said. “They (traders) are vulnerable. What happened before the stock market was regularised is happening now. People are forming fake companies and selling bitcoins and other cryptocurrencies, which have no value. There is no way people can get their money back once the website is shut down,” said one of the industry insiders.

Lost money in Bitcoin, other cryptocurrencies? Police won't
As regulations elude cryptocurrency market, players feel trading in virtual currency had become akin to playing with fire and had made them vulnerable to scams and ponzi schemes. Image source: Reuters

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