Indian Crypto Investors Lose Rs 1000 Crore To Fake Crypto Apps And Website Scam, Says Report; DOGE Up 11%

Indian crypto investors have lost about Rs 1000 crore to several ongoing fake crypto exchanges scam, according to a report by cyber security research company, CloudSEK.

The report said that the primary reason that Indians were falling prey to these kinds of cyber attacks was because the attackers replicated an exact copy of the original crypto website and made it difficult for people to differentiate between the original and duplicate.

The global crypto market capitalisation went down by 0.92 per cent to $950.24 billion as of 8.30 am. However, the global crypto volume was up by 16.38 per cent to $57.75 billion as per Coinmarketcap data.

Cryptocurrency Prices

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $21,150.37, lower by 1.1 per cent in the last 24 hours. Ethereum (ETH) was down by 1.01 per cent to $1,220.12. 

"The market leader fell slightly on Sunday but continues to hold stead above $21,000 and Ether remains over $1200. The struggle for an upward trend holds back any chances of a rally, at bay currently. This week might prove to be more decisive, with either a strong support or further breakdown in price," says Gaurav Dahake, CEO and founder, Bitbns.

Among other significant coins, Cardano (ADA) was down by 0.48 per cent at $0.4993, Algorand (ALGO) was trading with a loss of 2.62 per cent at $0.3372, Solana (SOL) was trading with a loss of 3.29 per cent at $39.89, Polkadot (DOT) was down by 1.53 per cent at $7.97, and Binance Coin (BNB) was down by 1.04 per cent at $236.09.

Today’s top gainer was GARD Governance Token (GGT), which was up by 2429.75 per cent at $0.0006167. The top loser was SUPE (SUPE) which was down by 62.68 per cent at $0.4532. 

Meme Coin And DeFi Prices

Dogecoin (DOGE) was up by 10.58 per cent at $0.07508. Its volume to market cap ratio stands at 0.1051. Rival Shiba Inu (SHIB) was down by 2.07 per cent at $0.00001139.

Dogelon Mars (ELON) lost 7.43 per cent to trade at $0.0000003721, Floki Inu (FLOKI) lost 6.85 per cent at $0.000006437, and Samoyed Coin (SAMO) rose by 14.86 per cent at $0.007547. 

In the DeFi segment, YFI (yearn.finance) was down by 5.21 per cent at $6,531.42, and Terra Classic (LUNC) was trading with a gain of 33.57 per cent at $0.00007884. Avalanche (AVAX) was down by 4.08 per cent at $20.10, Aave (AAVE) fell by 5.1 per cent at $66.84, and Uniswap (UNI) was trading with a gain of 2.81 per cent at $5.72.