The initial coin offering (ICO) scam by the name of Healthy Coin (HLCN) was uncovered by local crime branch of the Assam Police on Sunday. The investigation came about following a complaint by a People who fell for the scam.

The police raided the company’s premises, resulting in the arrest of one, Kalpesh Sutar, who was Promoter of the company. Unfortunately, the Three prime suspects who ran the company remain at large; indeed, the main suspect, Bikash Kr Das, is believed to have escaped from India. The police seized 18 laptops, rubber stamps, and fabricated documents from the company’s office.

The HLCN website, which is still live as of press time, shows all signs of being a scam — with missing white paper, Logging section, and press-mentions that do not redirect anywhere. In spite of this, HLCN still managed to get Videos in the Big you tuber (Mr. Vicky Rajput from Being India Crypto tech) which the Promoter lent an air to the project and lured investors.

“Just like an initial public offering (IPO), HLCN offered a private initial coin offering (ICO), wherein he invited people and offered coins for just
$0.015 in 1St phase sold out
$0.046 in 1St phase sold out
$0.092 in 1St phase Completed
$0.180 in 1St phase To be Continued
$0.280 in 1St phase Discontinued

The person in charge of the investigations told local media. “Later, he hiked the value of one coin internally to $1, Trading start for International Exchange on Six Phase but nobody could cash their investment as HLCN was never listed on any crypto currency exchange.”

The crime branch has charged all accused for cheating, forgery, and criminal conspiracy as applicable under the Indian laws.

It is worth noting that this is not the first time that an Indian Coin Scam last Month Money Trade Coin (MTC) CEO Amit Madanlal Lakhanpal, is believed to have escaped to Dubai which done a crypto currency scam worth $5 Billion.

My suggest to all of you Don’t Invest your Crypto Currency in ICO. As per TechCrunch report More than a 1000 of Crypto project are “already Dead” due to They don’t have any vision, no agenda & road-map, never listed there coin on any crypto currency exchange or low volume Trading There only motive to collect your Bitcoin & Ethereum . I think one of the main reason That’s why Bitcoin Fall badly or not rise.

“Trust On Our Mother Crypto Currency & hold long”.

Beware from Scam.

Thanks,
Rahul Khairnar

https://steemit.com/@kkhairnarrahul