India adopts BTC as legal tender? Hackers in control of Indian PM's Twitter
India has become the center of attraction for several eyes around the world due to its Cryptocurrency Bill that will be taken up for discussion in the winter session of the Indian Parliament. However, as per a recent turn of events, the Prime Minster's Twitter account was hacked, and the hackers tried to scam the followers of the PM.
BTC as legal tender
After hacking the account of the Prime Minister of India, Narendra Modi, the hackers tweeted that "India has officially adopted Bitcoin as legal tender." The turn of events was covered by a Twitter user by the name of Priya. Furthermore, the hackers tried to lure crypto investors, saying that the "government has officially bought 500 BTC and is distributing them to all residents of the country."The link was actually a fake destination created to scam the investors who visited the page. Looking at the details of the transactions that happened on the address, around 12 transactions happened on the network. The total amount involved was a little more than $4000 (around 300,000 INR).
Office of the Prime Minister of India tweeted about the event, stating that the account was immediately secured and also urged the audience to ignore any tweet by the official account.
India on the way to regulate crypto
India is on the road to crypto adoption, which means that the bill will soon be discussed in Parliament. There are a number of speculations of the bill, and the Cryptocurrency and Regulation of Official Digital Currency Bill will also focus on the creation of a Central Bank Digital Currency, which is expected to come out soon.Furthermore, the legislature will also put a ban on private wallets and exchange-to-exchange transfers. The goal is to regulate the crypto market like the stock market in India, prohibiting payments using cryptocurrencies in India. A report also claims that breaking laws relating to crypto might lead to arrest without a warrant and no bail.
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