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Crypto Crimes: Inside India’s Best-Kept Secret
Publisher:
HarperCollins India
| Author:
Mitali Mukherjee
| Language:
English
| Format:
Paperback
₹424
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1-4 Days
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ISBN:
Page Extent:
366
The size of crypto investments in India stands at more than $10 billion, and about 15 million Indians have invested in cryptocurrencies. Most crypto traders are in the age group of twenty-two to thirty years, and hail from Tier 2, Tier 3 and Tier 4 towns. The volatility and easy money that crypto promises has turned it into a financial phenomenon. As the traders know, mining crypto coins is an arms race that rewards early adopters. And they are in a hurry.
So where and when did the chase for fast money begin to take so many wrong turns?
This book traces the murky underbelly of the crypto world and its mercurial spread across India-from the interiors of Uttar Pradesh, where crypto accounts are looted at gunpoint to quick black to white, switches for money in Bihar to the lure of drugs and parties in Karnataka and social media influencers who choose to be paid in crypto to circumvent both taxes and accountability.
Crimes range in both scale and concentration. In a chilling report, a Special Investigation Team reported that cryptocurrency is allegedly being used for transactions in narcotics, drugs, smuggling, investment of unaccounted money and illegal betting. Its latest use is to procure arms and weapons, becoming an easy conduit to fund terror activities against the Indian state. And this is only the tip of the iceberg.
With personal stories and first-person accounts, Crypto Crimes goes deep into the dark web to reveal the truth behind the crypto bubble that is red-hot, unregulated and spells trouble.
Description
The size of crypto investments in India stands at more than $10 billion, and about 15 million Indians have invested in cryptocurrencies. Most crypto traders are in the age group of twenty-two to thirty years, and hail from Tier 2, Tier 3 and Tier 4 towns. The volatility and easy money that crypto promises has turned it into a financial phenomenon. As the traders know, mining crypto coins is an arms race that rewards early adopters. And they are in a hurry.
So where and when did the chase for fast money begin to take so many wrong turns?
This book traces the murky underbelly of the crypto world and its mercurial spread across India-from the interiors of Uttar Pradesh, where crypto accounts are looted at gunpoint to quick black to white, switches for money in Bihar to the lure of drugs and parties in Karnataka and social media influencers who choose to be paid in crypto to circumvent both taxes and accountability.
Crimes range in both scale and concentration. In a chilling report, a Special Investigation Team reported that cryptocurrency is allegedly being used for transactions in narcotics, drugs, smuggling, investment of unaccounted money and illegal betting. Its latest use is to procure arms and weapons, becoming an easy conduit to fund terror activities against the Indian state. And this is only the tip of the iceberg.
With personal stories and first-person accounts, Crypto Crimes goes deep into the dark web to reveal the truth behind the crypto bubble that is red-hot, unregulated and spells trouble.
About Author
Mitali Mukherjee is one of the most well-known faces in the world of business journalism. With close to two decades of experience in journalism, she has handled a wide range of subjects, from politics to global and local economic reportage. She is a Chevening fellow for the South Asia Journalism Fellowship 2020, a TEDx speaker, Raisina AFGG (Asian Forum on Global Governance) Young Fellow and a Steering Committee member of the Australia India Youth Dialogue (AIYD). She was formerly markets editor at CNBC TV18, consulting business editor at The Wire and consulting editor at Mint, and has also worked with the TV Today group, BBC World and Doordarshan.
She is currently the director of the Journalist Programmes at the Reuters Institute at Oxford.
A gold medallist in television journalism from IIMC, Delhi, and a gold medallist in political science, Mukherjee brings a unique perspective to her interactions, and connects instantly with readers and viewers alike.
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