Police Seizes India’s First Bitcoin ATM, Arrests Owner
Reports from Bangalore state that India's first Bitcoin ATM has been seized by the police and Harish BV, the co-founder of Unocoin, has also been arrested.
- Aditya Worah
- Oct 24, 2018
- Nov 13, 2024
Reports from Bangalore state that India's first Bitcoin ATM has been seized by the police and Harish BV, the co-founder of Unocoin, has also been arrested.
Unocoin has launched India's first-ever Bitcoin ATM at Bangalore's Kemp Fort Mall. Read more to know how to use this ATM to withdraw and deposit funds.
A Canadian fraud victim tried to sue the company that owned the Bitcoin ATM after she was defrauded. However, the courts in the country ruled against her.
Victims in a $50,000 Bitcoin scam were forced to pay non-existent tax debt via Bitcoin ATMs. Police suspect there might be more victims who are yet to report.
While Bitcoin price might be on a slump, the number of Bitcoin ATMs situated across the world has been on a continuous rise. The tally has now risen to 3,503.
The ATM is located inside the retail shop Herman Vapes on the Cases Street and is now open for public use.
Barely three months ago there had been 2177 Bitcoin ATMs all around the world.
While cryptocurrency markets continue to collapse, there has been a sudden spike in the number of Bitcoin ATMs! Here's an analysis of where these ATMs are popping up.
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