CoinX Trading, a fraudulent crypto-related multi-level marketing (MLM) scheme, reportedly lured around 1200 Indian investors into investing $1.4 million in the questionable "get-rich-quick" business. Five suspects including CoinX Trading founder Gardesh Ramesh have now been arrested by local authorities for their alleged involvement in the cryptocurrency scam. This recent fraud case now joins a growing list of scams associated with cryptocurrencies in India.
