Days back one of the exchange in the country came up with a proposal to regulate cryptocurrencies and avoid complete ban of cryptocurrencies usage within the country. When such good news pops out people go positive on using cryptocurrency. By the same time there is a news about an exchange scamming people with more than $60 million.
Exchange would really come to this kind of proposal so that their business won't shutdown and personally the suggestion isn't bad since it suggest that the country to not be hostile to cryptocurrency and at the same time implement regulations and guidelines towards cryptocurrency. This kind of suggestion benefits both the cryptocurrency industry and the government since the government can always get taxes to legit exchanges thus, more income to the government.
More than forty people who got scammed have complained about the exchange to the Delhi police. I've never come across the exchange named Pluto. This exchange has got almost seven executives who are the team. It is a new kind of trap, because with the people who doesn't have much knowledge about cryptocurrency they've mentioned about creating their own cryptocurrency and assured of 30% - 40% return monthly. This has made more users to invest and finally ended as a trap, and the office have got relocated to Dubai closing the office in India.
Most people really never learn and always allow greed to consume their sanity. The bolded part had been used a lot by Ponzi companies and I can't comprehend why people always fall for that scam.