Scam Update: Man arrested for 300 Million Yen Cryptocurrency Fraud

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Parth Vig
Parth Vig is a Management student, and a keen observer of Cryptocurrency and blockchain technology, his interest in writing brings him to thecoinrepublic.com, He believes that he has many ideas that he pens down and he feels it would be a great asset for any kind of creative writing.
  • A man named Hideki Shiratori, aged 52 was arrested by National Police in Minato-Ku, Tokyo, for alleged cryptocurrency scam nationwide.
  • Hideki was engaged from July 2018 to December 2019 in fraudulently doing transactions in nationwide with damages summing up to 300 Million Yen.
  • A cryptocurrency exchange BITPoint from Japan has dealt with the biggest loss to the hackers, losing about $28 Million.

A man named Hideki Shiratori, aged 52 was arrested by National Police in Minato-Ku, Tokyo, for alleged cryptocurrency scam nationwide. He was blamed for having fraudulently engaged in transactions of cryptocurrencies.

As per the records by the perpetual police of Tokyo, Hideki was engaged from July 2018 to December 2019 in fraudulently doing transactions in nationwide with damages summing up to 300 Million Yen and have duped 30 people off their cryptocurrency. The Perpetual police have come to the conclusion that there is a larger organization at play.

He has mimicked as several persons during his time of scamming people. In June of last year, Hideki had mimicked as an unemployed woman of 70 years age Kawagoe City. He resembled himself as an employee of Saitama Prefecture. He was alleged to have duped people a total of 5.5 Million Yen from August to October the last year.

The prefectural police of Tokyo have arrested another man of age 60 from Saitama city working as a senior financial officer in a company for fraudulently trying to purchase crypto assets. This is not the first of its kind of scam, as the cryptocurrency sphere is expanding; the number of frauds and scams are on the rise as well.

In the previous year alone, hackers and scammers have gone away with $4.26 Billion from users and exchanges. A cryptocurrency exchange BITPoint from Japan has dealt with the biggest loss to the hackers, losing about $28 Million. Six people were arrested in Amsterdam for making faking websites to lure users and hack their crypto wallets.

The top exchange Binance as well has faced a loss of about $40 Million hacked by individuals in May the previous year. One is advised to be cautious of their assets and the way they use it online.

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