ChainCatcher reports that three former Indian military personnel have filed a complaint with the Pune Chandanagar police, accusing eight officials of a trading company of defrauding them of over ₹798.1 million (approximately $96,000) through a cryptocurrency scam since 2022. The three invested their retirement savings into the scheme, lured by promises of double the investment within 20 months and a monthly return of 10%.

The company's director and a former military personnel involved in the case were previously arrested in connection with a similar case and are currently in Yerawada jail. The police are awaiting court approval for further interrogation. Earlier this year, the company held a digital currency seminar in Maharashtra, attracting many to invest.