$162 000 000 USD

JANUARY 2022

INDIA

MORRIS COIN

DESCRIPTION OF EVENTS

"MORRIS COIN The Best Trending platform! A New Decentralized Cryptocurrency exclusively made For THE modern BUSINESS World and individual traders."

 

"Morris is a fully decentralized platform. Its main function is an opportunity to create and place smart contracts. The MORRIS Coin - A New Decentralized Cryptocurrency exclusively made For THE modern BUSINESS World and individual traders."

 

"The Morris Coin is a multifunctional, next-generation cryptocurrency form being developed on Blockchain, using cutting edge smart technology. The Morris Coin will be the first stable digital currency exclusively designed and marketed towards an Ecommerce and Trading Industry to pay for product and services and freedom from dealing with traditional business."

 

"The Morris Coin will work on blockchain smart contracts which allow the parties to make lawful agreements and executed automatically, offering a new convenient payment system up-to-date, cryptographically-secure and user-friendly. It will increase transparency in the digital exchange supply chain. To power an Ecommerce and Trading network and to create a stable method of exchange The Morris Coins will be released to the public via ICO (Initial Coin Offering). Once live, internet users and Ecommerce members within the system will exchange The Morris Coin as token currency. The Coin lives on the Blockchain."

 

"It has the same transparency, fluidity, and security price volatility. This gives leverage, robustness and long-term sustainability to The Coin as a digital currency. This is the opposite of a conventional fiat currency which decreases in value each time a Government prints more. The Morris Coin was designed by experts using the latest technology and techniques in cryptocurrency and blockchain. The Morris Coin is at the cutting edge in digital currency, designed for use by an Ecommerce and Trading world as well as private individuals."

 

"Morris coin is a crytocurrency that is going to be listed in one of the top exchanges of the world. There is no doubt that Morris coin will open the door for revolutionary technological possibilities."

 

"The coin does not appear to be listed anywhere, but if it’s in the ICO stage, that doesn’t mean it’s fake. It has a one-page website, which is secured by a free CloudFlare SSL certificate. It uses generic images, including one explaining block chain that appears identical to that here."

 

"The scheme involves a nonexistent cryptocurrency called Morris coin. Nishad and his companies conducted an initial coin offering (ICO) for the coin and collected money from investors. The ED explained that they held “promotional events in the presence of celebrities” and used “flashy websites” to attract investors. The police said that over 900 investors were duped out of 1,200 crore rupees."

 

"Though the investigating agencies peg the scam's size at Rs 1,265-crore, victims, pin stockists who were part of the Morris Coin team, lawyers who have been battling the case in courts for over two years, and police officials indicate that at least 1.1 million investors spread across Kerala, Tamil Nadu, and Karnataka might have lost over Rs 3,000"

 

"Cryptocurrencies such as ETH, BTC, BNB, YFI, VET, ADA, and USDT, valued at ₹25,82,794, and maintained at Indian and international crypto exchanges, were found. They were purchased out of the proceeds of crime."

 

"Indian authorities have been working on several cryptocurrency scam cases. Earlier this month, the country’s Enforcement Directorate (ED) seized assets worth about $5 million in an alleged cryptocurrency scam involving Morris Coin."

 

"After the arrest of Kannur native Nishad, many transactions under the wraps were unearthed. Nishad, Managing Director of Longreach Technologies, was arrested on October 2020 for operating a multi-layer Ponzi scheme which collected Rs 15,000 people from over 11 lakh people to invest in Morris coin."

 

"Earlier this week, the Enforcement Directorate conducted raids at 11 locations across the country regarding a fake cryptocurrency called Morris Coin that floated an “initial coin offering” similar to an initial public offering."

 

"The companies that were raided include Bengaluru-based Long Rich Technologies, Longrich Global, and Morris Trading Solutions, among others"

Morris Coin was a fraudulent initial coin offering, which made a significant number of misleading claims about their cryptocurrency, in flashy promotions with celebrities. Authorities have started to work together to sieze the gathered assets.

Sources And Further Reading

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