🇮🇳 Mumbai police uncovers massive crypto scam involving Coin ZX, accusing its managing director, Ravi Mahaseth, and five others of defrauding investors of up to Rs 200 crore. They lured people nationwide with promises of sky-high returns, branding Coin ZX as “India’s Bitcoin.” Investors, including a Borivali businessman who lost Rs 24 lakh and three friends who lost Rs 10 lakh, Rs 20 lakh, and Rs 8 lakh respectively, were deceived through cash-only transactions, a fraudulent website, and false assurances of profits. Mahaseth claimed Coin ZX, initially valued at Rs 4, would soar to Rs 1,600 in 20 months—leaving hundreds of victims devastated after he vanished. Mumbai and Hyderabad police have lodged cases against Mahaseth and his associates, who fled to Dubai after the scam was exposed. Source: The Indian Express