A special investigation team (SIT) will be set up to probe cases of Bitcoin investment fraud, the Maharashtra Government announced in the Legislative Council today. Minister of State (Finance) Deepak Kesarkar said the SIT would be headed by the Additional Director General, Economic Offences. He was replying to a calling-attention motion by Hemant Takle, Amarsingh Pandit, Kiran Pawaskar and Leader of Opposition Dhananjay Munde. The opposition legislators raised the issue of alleged cheating to the tune of Rs 30-40 crore of investors in Kolhapur and Sangli by Xipcoin Kripto, a crypto currency firm. The minister said that an SIT will be formed to probe this and other cases involving cheating of Bitcoin investors. If needed, police will seek the Enforcement Directorate's help, he said. The minister also said that an awareness campaign was needed so that people did not fall prey to such scams.
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