After repeated notices and chances, social media platform Twitter has finally complied with the final notice issued by the Ministry of Electronics and IT on June 27. 
The Ministry of Electronics and IT had set a deadline of July 4, failing which Twitter could have lost the intermediary status, which means it will be liable for all the comments posted on its platform.
The government in May had asked Twitter to act on content related to Khalistan and accounts eulogising terrorists in Kashmir. Later in June, the government asked Twitter to act on around 60 accounts. 

Twitter India 'finally' in compliance with govt's new IT rules

Twitter, in the past, failed to comply with two takedown notices &ndash; on June 6 and 9

After repeated notices and chances, social media platform Twitter has finally complied with the final notice issued by the Ministry of Electronics and IT on June 27.&nbsp;
The Ministry of Electronics and IT had set a deadline of July 4, failing which Twitter could have lost the intermediary status, which means it will be liable for all the comments posted on its platform.
The government in May had asked Twitter to act on content related to Khalistan and accounts eulogising terrorists in Kashmir. Later in June, the government asked Twitter to act on around 60 accounts.&nbsp;

The 1 per cent tax deducted at source (TDS) on virtual digital assets (VDAs) and cryptocurrencies is another chaos in India’s crypto space. Three Cryptocurrency exchanges -- ZebPay, WazirX and CoinDCX -- suffered declines of between 60% and 87% in the value of daily trading immediately after the 1% tax-deductible at source became effective on July 1, as compared to previous three-day periods in late June. The TDS rule states that all trades involving the sale and transfer of crypto assets will be charged a 1 percent fee on the seller's end. The 1% TDS rule, which was proposed earlier this year in Budget 2022, has been introduced through a new section 194S in the Income-tax Act. 
The government introduced a tax regime for digital assets in February, consisting of the TDS and a flat 30% tax on income from crypto investments. It also banned offsetting of losses on such assets, treating them differently from stocks and bonds. 

Crypto crises in India continues; new TDS rule brings down trading volume

Indian govt introduced a tax regime for digital assets in February, consisting of the TDS&nbsp;and a flat 30% tax on income from crypto investments

The 1 per cent tax deducted at source (TDS) on virtual digital assets (VDAs) and cryptocurrencies is another chaos in India&rsquo;s crypto space.
 Also read/watch| <a title="EV companies under fire, govt sends show cause notice&nbsp;" href="https://www.editorji.com/business-news/ev-companies-under-fire-govt-sends-show-cause-notice-1656991462823">EV companies under fire, govt sends show cause notice&nbsp;</a> Three Cryptocurrency exchanges -- ZebPay, WazirX and CoinDCX -- suffered declines of between 60% and 87% in the value of daily trading immediately after the 1% tax-deductible at source became effective on July 1, as compared to previous three-day periods in late June.&nbsp; The TDS rule states that all trades involving the sale and transfer of crypto assets will be charged a 1 percent fee on the seller's end. The 1% TDS rule, which was proposed earlier this year in Budget 2022, has been introduced through a new section 194S in the Income-tax Act.&nbsp;
The government introduced a tax regime for digital assets in February, consisting of the TDS and a flat 30% tax on income from crypto investments. It also banned offsetting of losses on such assets, treating them differently from stocks and bonds.&nbsp;

Months after a spate of fires in two-wheelers put a bumpy ride in India's EV overdrive, the government has reportedly sent show cause notices to firms asking them to detail the reasons for the recent fire incidents with their two-wheeler electric vehicles. 
According to reports, the government has asked electric scooter OEMs, including Ola Electric, Okinawa Autotech, and Pure EV, to explain why they should not be penalised for the fire incidents. 
The companies have been given 30-days time till July-end to respond to the notice. 
EV fire incidents in recent times have triggered a safety debate in India. The most recent incident involves a Tata Nexon EV which caught fire in Mumbai. Meanwhile, Ola, Okinawa and Pure have voluntarily recalled nearly 7,000 e-two wheelers of the models that had caught fire.

EV companies under fire, govt sends show cause notice 

They have been given 30 days till July-end to respond to the notices&nbsp;

Months after a spate of fires in two-wheelers put a bumpy ride in India's EV overdrive, the government has reportedly sent show cause notices to firms asking them to detail the reasons for the recent fire incidents with their two-wheeler electric vehicles.&nbsp;
According to reports, the government has asked electric scooter OEMs, including Ola Electric, Okinawa Autotech, and Pure EV, to explain why they should not be penalised for the fire incidents.&nbsp;
Also read/watch| <a title="Crypto crises in India continues; new TDS rule brings down trading volume" href="https://www.editorji.com/business-news/crypto-crises-in-india-continues-new-tds-rule-brings-down-trading-volume-1656995121783">Crypto crises in India continues; new TDS rule brings down trading volume</a>
The companies have been given 30-days time till July-end to respond to the notice.&nbsp;
EV fire incidents in recent times have triggered a safety debate in India. The most recent incident involves a Tata Nexon EV which caught fire in Mumbai. Meanwhile, Ola, Okinawa and Pure have voluntarily recalled nearly 7,000 e-two-wheelers of the models that had caught fire.

A bizarre incident has been reported where a man dressed up as a Zomato delivery executive to get a job in Bengaluru.
The man is identified as Aman Khandelwal, he is looking for a job as a management trainee. Aman as a Zomato delivery agent delivers his resume in the boxes of pastries to the Bengaluru startups. Each pastry box contains a note of "Most of the resumes end up in the trash but mine in your belly."
Aman posted this on his Twitter handle on Saturday, his post garnered many likes and comments. Following this Aman dropped his Linkedin profile link in the comment section so that people can approach him with his viral tweet. 

Dressed as Zomato agent, man sends resume in pastry box. Find out what happened next

Man dressed up as Zomato delivery agent to find a good job, sent resume in the box of pastries

Man dressed up as Zomato delivery agent to find a good job, sent resume in the box of pastries

A man from Bengaluru is garnering many thumbs ups on social media with his &lsquo;in the box&rsquo; idea of sending&nbsp; job applications. Aman Khandelwal, who was looking for a job as a management trainee, dressed up as a Zomato rider and delivered this resume to several Bengaluru startups in a pastry box.&nbsp;
Each box contained some pastries, his resume and a note saying &lsquo;most of the resumes end up in the trash but mine in your belly.&rsquo;
ALSO WATCH: <a href="https://www.editorji.com/india-news/2-held-for-thrashing-zomato-boy-attackers-had-refused-food-used-casteist-slur-1655867490334" target="_blank">2 held for 'thrashing' Zomato boy; attackers had refused food, used casteist slur</a>
Aman posted a picture of him dressed as a Zomato delivery agent and the pastry box on his Twitter handle on Saturday and followed it up by dropping his Linkedin profile link in the comment section.&nbsp;
Several twitter users did point out that it is not an original idea and that it has been done before but Digital Gurukul Metaversity, a digital institute offering marketing courses, was so impressed by his effort that they offered him a scholarship for one of their programmes and an internship.&nbsp;

Mercer, a global consulting firm has released its annual list of the world's most expensive cities to live in, and once again  known for its iconic skyscrapers and beautiful skyline view, Hong Kong is the world’s most expensive place for employees sent abroad to work.  
Four Switzerland cities Zurich, Geneva, Basel and Bern ranked second to fifth place respectively in Mercer’s Cost of Living Survey 2022.  Apart from this, Israel’s Tel Aviv bagged the 6th place as the priciest place in the Middle East while New York City bagged the seventh spot. 
Asian cities that made it to the top 10 were Singapore, Tokyo, and Beijing. 
Coming to home, at number 127, Mumbai is the most expensive city in India followed by New Delhi at number 155.
At the other end of the table, the cheapest places for expats to live were Turkey’s Ankara, Bishkek in Kyrgyzstan and Dushanbe in Tajikistan. 

Zurich, world’s 2nd most expensive city; here's the one place that beat it 

Survey showed comparing the prices of 200 goods and products in more than 400 cities

From paying $9.45 for a loaf of bread to more than $2000 for a one-bedroom apartment, these overseas cities will strain your budgets even if you are earning the big bucks.&nbsp; Known for its iconic skyscrapers and beautiful skyline view, Hong Kong is once again the world&rsquo;s most expensive city for international employees.&nbsp;
Also read/watch| <a title="British Army's Twitter, YouTube hacked to promote crypto scam" href="https://www.editorji.com/business-news/cryptocurrency/british-army-s-twitter-youtube-hacked-to-promote-crypto-scam-1656903089974">British Army's Twitter, YouTube hacked to promote crypto scam</a>
Switzerland's Zurich, Geneva, Basel and Bern were in second to fifth place respectively in Mercer&rsquo;s Cost of Living Survey 2022 which ranks cities based on how expensive they are for employees who are sent to work there from other countries.&nbsp;
Israel&rsquo;s Tel Aviv bagged the 6th place, it also the priciest place in the Middle East while New York City bagged the seventh spot.&nbsp;
Asian cities that made it to the top 10 were Singapore, Tokyo, and Beijing.&nbsp;
Coming home, at number 127, Mumbai is the most expensive city in India followed by New Delhi with a global rank of 155.
At the other end of the table, the cheapest places for expats to live were Turkey&rsquo;s Ankara, Bishkek in Kyrgyzstan and Dushanbe in Tajikistan.&nbsp;

Amazon founder Jeff Bezos is asking US President Biden to get an economics lesson to understand how petrol pricing works. Bezos took to Twitter accusing the U.S. president of lacking a "basic" understanding of the forces that actually drive prices.In the initial tweet, US President Biden made a direct appeal to gas stations and encouraged them to simply charge less for gasoline."Bring down the price you are charging at the pump to reflect the cost you’re paying for the product,” the president continued. “And do it now.”“Ouch. Inflation is far too important a problem for the White House to keep making statements like this,” posted Bezos, owner of the Washington Post and founder of Amazon. “It’s either straight ahead misdirection or a deep misunderstanding of basic market dynamics.”The White House took again to Twitter on Sunday to push back against Bezos. Press Secretary Karine Jean-Pierre said the elevated prices are ‘not basic market dynamics.’ It’s a market that is failing the American consumer.This is not the first round Bezos vs Biden; the outspoken American billionaire had taken to Twitter in May to lash out against Biden's call to raise taxes for 'corporations to do their fair share' to control inflation. Bezos had responded by saying unions and wealthy people don't cause inflation. 

Bezos vs Biden: Find out why Amazon founder is again taking on the US President

The outspoken American billionaire Bezos is asking US President to get an economics lesson, here is why

Bezos vs Biden: Round II

The exchange with Bezos wasn&rsquo;t the first time Biden and an outspoken American billionaire engaged in a war of words.

Amazon founder Jeff Bezos is asking US President Biden to get an economics lesson to understand how petrol pricing works. Bezos took to Twitter accusing the U.S. president of lacking a "basic" understanding of the forces that actually drive prices. In the initial tweet, US President Biden made a direct appeal to gas stations and encouraged them to simply charge less for gasoline." Bring down the price you are charging at the pump to reflect the cost you&rsquo;re paying for the product,&rdquo; the president continued. &ldquo;And do it now.&rdquo;
Also read/watch|<a title=" Special treatment for Tesla not in India's interest: Ola Chief Bhavish Aggarwal " href="https://www.editorji.com/business-news/special-treatment-for-tesla-not-in-india-s-interest-ola-chief-bhavish-aggarwal-1656905118049"> Special treatment for Tesla not in India's interest: Ola Chief Bhavish Aggarwal</a> &ldquo;Ouch. Inflation is far too important a problem for the White House to keep making statements like this,&rdquo; posted Bezos, owner of the Washington Post and founder of Amazon. &ldquo;It&rsquo;s either straight ahead misdirection or a deep misunderstanding of basic market dynamics.&rdquo; The White House took again to Twitter on Sunday to push back against Bezos. Press Secretary Karine Jean-Pierre said the elevated prices are &lsquo;not basic market dynamics.&rsquo; It&rsquo;s a market that is failing the American consumer. This is not the first round Bezos vs Biden; the outspoken American billionaire had taken to Twitter in May to lash out against Biden's call to raise taxes for 'corporations to do their fair share' to control inflation. Bezos had responded by saying unions and wealthy people don't cause inflation.&nbsp;

Ola Chief is resounding the 'Make In India for India' slogan as he is asking Tesla Chief to not expect any 'special treatment' if the EV major wants to ride on the Indian roads. “Tesla is free to come in and put up shop here and sell its cars,” Aggarwal told the Financial Times.
“They just want to be treated differently from others, which I believe is not in the interests of India.” Tesla has not started manufacturing operations in India. Founder Elon Musk tweeted in May that “Tesla will not put a manufacturing plant in any location where we are not allowed first to sell & service cars”.Tesla has not entered the Indian market missing the 2021 timline the 'Technoking' himself tweeted. High import taxes and a push back on any breaks have put those plans in parking mode. But Musk tweeted in May that “Tesla will not put a manufacturing plant in any location where we are not allowed first to sell & service cars”

Special treatment for Tesla not in India's interest: Ola Chief Bhavish Aggarwal

Ola Chief has this to say to Tesla....

&ldquo;Tesla is free to come in and put up shop here and sell its cars,&rdquo; Aggarwal told the Financial Times.

Ola Chief is resounding the 'Make In India for India' slogan as he is asking Tesla Chief to not expect any 'special treatment' if the EV major wants to ride on the Indian roads.&nbsp; &ldquo;Tesla is free to come in and put up shop here and sell its cars,&rdquo; Aggarwal told the Financial Times.
Also read/watch| <a title="British Army's Twitter, YouTube hacked to promote crypto scam" href="https://www.editorji.com/business-news/cryptocurrency/british-army-s-twitter-youtube-hacked-to-promote-crypto-scam-1656903089974">British Army's Twitter, YouTube hacked to promote crypto scam</a>
&ldquo;They just want to be treated differently from others, which I believe is not in the interests of India.&rdquo; Tesla has not started manufacturing operations in India. Founder Elon Musk tweeted in May that &ldquo;Tesla will not put a manufacturing plant in any location where we are not allowed first to sell &amp; service cars&rdquo;. Tesla has not entered the Indian market; missing the 2021 timeline the 'Technoking' himself tweeted. High import taxes and a push back on any breaks have put those plans in parking mode.&nbsp;

British Army’s Twitter and YouTube accounts were hacked and used to promote cryptocurrency scams as per a statement from the UK Ministry of Defence.“We are aware of a breach of the Army’s Twitter and YouTube accounts and an investigation is underway,” the Ministry of Defence Press Office said on Twitter. “The Army takes information security extremely seriously and is resolving the issue.”The videos on the British Army’s YouTube channel were replaced with old livestreams featuring Elon Musk and Jack Dorsey.  While British army handle, which is verified by Twitter, had retweeted a number of posts promoting NFTs on its timeline.The army's Twitter feed currently has 362,000 followers, while the YouTube channel has 177,000 subscribers

British Army's Twitter hacked to promote crypto scam

The videos on the British Army’s YouTube channel were replaced with old livestreams featuring Elon Musk and Jack Dorsey

British Army's Twitter, YouTube hacked to promote crypto scam

British army handle, which is verified by Twitter, had retweeted a number of posts promoting NFTs on its timeline.

British Army&rsquo;s Twitter and YouTube accounts were hacked and used to promote cryptocurrency scams as per a statement from the UK Ministry of Defence. &ldquo;We are aware of a breach of the Army&rsquo;s Twitter and YouTube accounts and an investigation is underway,&rdquo; the Ministry of Defence Press Office said on Twitter. &ldquo;The Army takes information security extremely seriously and is resolving the issue.&rdquo;
Also read/watch| <a title="Special treatment for Tesla not in India's interest: Ola Chief Bhavish Aggarwal" href="https://www.editorji.com/business-news/special-treatment-for-tesla-not-in-india-s-interest-ola-chief-bhavish-aggarwal-1656905118049">Special treatment for Tesla not in India's interest: Ola Chief Bhavish Aggarwal</a> The videos on the British Army&rsquo;s YouTube channel were replaced with old livestreams featuring Elon Musk and Jack Dorsey.&nbsp; While British army handle, which is verified by Twitter, had retweeted a number of posts promoting NFTs on its timeline. The army's Twitter feed currently has 362,000 followers, while the YouTube channel has 177,000 subscribers

Musk has been mysteriously missing from Twitter since June 21, and even though one may argue that it is less than two weeks of 'tweet silence' in Musk terms that's an eternity. Elon Musk finally made a comeback, and the post was not something the 100 million followers were expecting....the world's richest man with the Pope. Musk made a a tribute to a popular YouTuber who passed away of cancer. He also shared a pair of photos that included a throwback to his 40th birthday party weekend and a recent photo of with Pope Francis and four of his sons.
The Tesla CEO also shared a photo of himself in a "tragic" suit when he previously visited Venice with ex-wife, actress Talulah Riley.    

Musk makes a comeback! This time with the Pope

Elon Musk finally made a comeback, and the post was not something the 100 million followers were expecting....the world's richest man with the Pope. 

Elon Musk has broken his silence streak on Twitter that started on June 21

Musk has been mysteriously missing from Twitter since June 21, and even though one may argue that it is less than two weeks of 'tweet silence' in Musk terms that's an eternity. Elon Musk finally made a comeback, and the post was not something the 100 million followers were expecting....the world's richest man with the Pope.&nbsp; Musk made a a tribute to a popular YouTuber who passed away of cancer. He also shared a pair of photos that included a throwback to his 40th birthday party weekend and a recent photo of with Pope Francis and four of his sons.
Also watch: <a href="https://www.editorji.com/world-news/over-8000-fights-delayed-or-cancelled-american-airports-in-complete-chaos-1656815208487" target="_blank">Over 8000 flights delayed or cancelled, American airports in complete chaos</a>
The Tesla CEO also shared a photo of himself in a "tragic" suit when he previously visited Venice with ex-wife, actress Talulah Riley. &nbsp; &nbsp;

Airports across US and Canada faced chaos as thousands of flights were delayed, and hundreds cancelled amid pilot and crew shortages, as industry experts warned of travel chaos this US Independence Day holiday weekend.
As per data available, more than 7,800 flights were delayed within, into, or out of the US, and 586 cancelled.Independence Day holiday weekend is one of the busiest travel periods of the year.As per media reports, passengers on a Delta Air Lines flight from Michigan to Minnesota reported that the airline offered them $10,000 this week to give up their seat on an oversold flight. Posts of filled airports, and baggage mountains went viral on social media. 

Over 8000 flights delayed or cancelled, American airports in complete chaos

Posts of filled airports, baggage mountains went viral on social media.&nbsp;

Airports across US and Canada faced chaos as thousands of flights were delayed, and hundreds cancelled amid pilot and crew shortages, as industry experts warned of travel chaos on the US Independence Day holiday weekend.
As per data available, more than 7,800 flights were delayed within, into, or out of the US, and 586 cancelled.Independence Day holiday weekend is one of the busiest travel periods of the year. As per media reports, passengers on a Delta Air Lines flight from Michigan to Minnesota reported that the airline offered them $10,000 this week to give up their seat on an oversold flight.&nbsp; Posts of filled airports, and baggage mountains went viral on social media.&nbsp;
Also watch: <a href="https://www.editorji.com/business-news/musk-makes-a-comeback-this-time-with-the-pope-1656822538375" target="_blank">Musk makes a comeback! This time with the Pope</a>

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With reports of IDBI Bank fully recovering its dues from now-defunct&nbsp;Kingfisher Airlines, fugitive businessman Vijay Mallya on Thursday mocked banks for saying he still owed them money.
Posting on twitter a clipping of a news item that reported that IDBI Bank has recovered its entire dues totalling Rs 753 crore from the airlines, Mallya said, "And the Banks say I owe them money!".
His tweet comes after a British court on Monday granted a bankruptcy order against him, paving the way for a consortium of Indian banks led by the&nbsp;State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by Kingfisher Airlines.
&nbsp;

Bad Boy Billionaire bankrupt but has not lost his sense of humour! Mallya mocks banks on twitter

Mallya vs Banks

Mallya, who fled to the UK in March 2016, is wanted in India over a default of Rs 9,000 crore that was loaned to Kingfisher Airlines (KFA) by several banks.

With reports of IDBI Bank fully recovering its dues from now-defunct&nbsp;Kingfisher Airlines, fugitive businessman Vijay Mallya on Thursday mocked banks for saying he still owed them money.
Posting on twitter a clipping of a news item that reported that IDBI Bank has recovered its entire dues totalling Rs 753 crore from the airlines, Mallya said, "And the Banks say I owe them money!".
His tweet comes after a British court on Monday granted a bankruptcy order against him, paving the way for a consortium of Indian banks led by the&nbsp;State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by Kingfisher Airlines.
&nbsp;

Twitter has moved the Karnataka high court challenging the central government's order seeking withdrawal of certain content from its platform that allegedly violate Section 69A of the IT Act.
In its writ petition, the microblogging site has reportedly called the blocking orders "overbroad and arbitrary".
The accounts and content that Twitter has been asked to pull down include those pertaining to the nationwide farmers' protest against the three farm laws passed by the Centre in 2020, COVID-19 management, and so on. 
In a missive sent of June 27, the Ministry of Electronics and IT (MeitY) gave Twitter “one last opportunity” to comply with its blocking orders. The ministry warned that if content flagged by it is not taken down by the microblogging platform, the company will risk losing its immunity as an intermediary. The deadline ended on July 4.
The move came after the IT ministry proposed fresh amendments to rules governing intermediaries such as Facebook and Twitter. Key amendments include a proposal to set up government-appointed grievance committees with the power to review and revoke content moderation decisions taken by these companies.

Twitter moves Karnataka HC, challenges Centre's takedown orders

In a missive sent of June 27, the IT ministry had warned Twitter that if the content flagged by it is not taken down, the company will risk losing its immunity as an intermediary. The deadline ended on July 4.



In a missive sent of June 27, the IT ministry had warned Twitter that if the content flagged by it is not taken down, the company will risk losing its immunity as an intermediary. The deadline ended on July 4.

Twitter has moved the Karnataka high court challenging the central government's order seeking withdrawal of certain content from its platform that allegedly violate Section 69A of the IT Act.
In its writ petition, the microblogging site has reportedly called the blocking orders&nbsp; "overbroad and arbitrary".
The accounts and content that Twitter has been asked to pull down include those pertaining to the nationwide farmers' protest against the three farm laws passed by the Centre in 2020, COVID-19 management, and so on.&nbsp;
Also Watch| <a href="https://www.editorji.com/business-news/twitter-given-last-warning-by-the-indian-government-july-4-deadline-given-1656578572716" target="_blank">Twitter given 'last warning' by the Indian government, July 4 deadline given</a>
In a missive sent of June 27, the Ministry of Electronics and IT (MeitY) gave Twitter &ldquo;one last opportunity&rdquo; to comply with its blocking orders. The ministry warned that if content flagged by it is not taken down by the microblogging platform, the company will risk losing its immunity as an intermediary. The deadline ended on July 4.
The move came after the IT ministry proposed fresh amendments to rules governing intermediaries such as Facebook and Twitter. Key amendments include a proposal to set up government-appointed grievance committees with the power to review and revoke content moderation decisions taken by these companies.

Around a year after claiming that OneCoin would be the "Number One cryptocurrency worldwide", the company's founder Dr Ruja Ignatova vanished without a trace. And now, Ignatova, who called herself "cryptoqueen", has been added to the FBI's Most Wanted List.
She is accused of masterminding a massive scam worth $4 billion, or around ₹26,000 crore. The Federal Bureau of Investigation is offering up to $100,000 for information leading to her arrest.
To evade arrest, Ignatova is believed to have changed her appearance, possibly through plastic surgery. She has been missing since 2017, when she boarded a flight from Bulgaria to Greece.
Ignatova went on the run after bugging her boyfriend's house over suspicion that he was cooperating with the FBI, which turned out to be true.
ALSO WATCH | WhatsApp scams target IAS, police officers: 3 types of frauds, precautions explained
With massive hype, OneCoin had managed to secure over 30 lakh investors from more than 100 countries. But how exactly did the scam work?
Investigators have called the case a Ponzi scheme with a "virtual twist". Basically, Ignatova's company sold OneCoin tokens which were worthless. Customers were promised high returns with low risk.
An exchange to convert OneCoin into real currency was never set up. Additionally, OneCoin was not backed by crypto-technology like blockchain, which is a decentralised digital ledger.
ALSO WATCH | Beware of massive Crypto scam, here is what you need to know
Customers were also told to encourage people they knew to buy OneCoin. In return, these customers were given commission for selling the cryptocurrency.
Ponzi schemes usually collapse when fresh customers dry up, and the flow of money stops, as the main product has no real value. To keep investors enthused, Ignatova also claimed that an IPO was in the pipeline, but it never occurred.&nbsp;
Some arrests have taken place in the case. In 2019, Ruja Ignatova's brother Konstantin was arrested by the FBI. He reportedly pleaded guilty and struck a deal to cooperate with the government.
Along with Konstantin Ignatov, US corporate lawyer Mark Scott was convicted for laundering $400 million for OneCoin. However, the prominent face of the company remains at large.
Ruja Ignatova was born in Bulgaria in 1980. She speaks Bulgarian, English, and German. She studied law at Oxford, and also has a PhD from Konstanz university. She worked with consultancy firm McKinsey &amp; Company before setting up OneCoin in 2014.
Ignatova made big claims about OneCoin, even calling it the "Bitcoin killer". However, OneCoin could not be traded, and could not be used for buying things.
Here are some of the other lies Ignatova told her victims.
The company claimed that OneCoin's value was based on market supply and demand. However, investigators said that the value was actually decided arbitrarily by Ignatova and the other conspirators.
Another fake claim was that OneCoin was secured by a private blockchain, as opposed to a public blockchain like other cryptos. Investigators said that there was no blockchain at all. The company also said that the crypto was mined via servers, but investigators said that the crypto was not mined at all.
The crypto market is going through a low phase these days, with investors worried about inflation, recession, and geopolitical tension. However, the digital assets periodically see a wild rise in value, attracting investors in large numbers.
But cases like OneCoin should act as a cautionary tale for investors looking to make easy money. With crypto regulations yet to catch up, people need to be careful about where they put their hard-earned cash.

₹26,000 crore crypto scam: OneCoin founder had plastic surgery done to evade FBI? | Ruja Ignatova

USA's Federal Bureau of Investigation (FBI) is offering up to $100,000 for information leading to OneCoin founder Ruja Ignatova's arrest.

Around a year after claiming that OneCoin would be the "Number One cryptocurrency worldwide", the company's founder Dr Ruja Ignatova vanished without a trace. And now, Ignatova, who called herself "cryptoqueen", has been added to the FBI's Most Wanted List.
She is accused of masterminding a massive scam worth $4 billion, or around ₹26,000 crore. The Federal Bureau of Investigation is offering up to $100,000 for information leading to her arrest.
To evade arrest, Ignatova is believed to have changed her appearance, possibly through plastic surgery. She has been missing since 2017, when she boarded a flight from Bulgaria to Greece.
Ignatova went on the run after bugging her boyfriend's house over suspicion that he was cooperating with the FBI, which turned out to be true.
ALSO WATCH | <a href="https://www.editorji.com/crime-news/whatsapp-scams-target-ias-police-officers-3-types-of-frauds-precautions-explained-1656348489821" target="_blank">WhatsApp scams target IAS, police officers: 3 types of frauds, precautions explained</a>
With massive hype, OneCoin had managed to secure over 30 lakh investors from more than 100 countries. But how exactly did the scam work?
Investigators have called the case a Ponzi scheme with a "virtual twist". Basically, Ignatova's company sold OneCoin tokens which were worthless. Customers were promised high returns with low risk.
An exchange to convert OneCoin into real currency was never set up. Additionally, OneCoin was not backed by crypto-technology like blockchain, which is a decentralised digital ledger.
ALSO WATCH | <a href="https://www.editorji.com/business-news/beware-of-massive-crypto-scam-here-is-what-you-need-to-know-1656310069965" target="_blank">Beware of massive Crypto scam, here is what you need to know</a>
Customers were also told to encourage people they knew to buy OneCoin. In return, these customers were given commission for selling the cryptocurrency.
Ponzi schemes usually collapse when fresh customers dry up, and the flow of money stops, as the main product has no real value. To keep investors enthused, Ignatova also claimed that an IPO was in the pipeline, but it never occurred.&nbsp;
Some arrests have taken place in the case. In 2019, Ruja Ignatova's brother Konstantin was arrested by the FBI. He reportedly pleaded guilty and struck a deal to cooperate with the government.
Along with Konstantin Ignatov, US corporate lawyer Mark Scott was convicted for laundering $400 million for OneCoin. However, the prominent face of the company remains at large.
Ruja Ignatova was born in Bulgaria in 1980. She speaks Bulgarian, English, and German. She studied law at Oxford, and also has a PhD from Konstanz university. She worked with consultancy firm McKinsey &amp; Company before setting up OneCoin in 2014.
Ignatova made big claims about OneCoin, even calling it the "Bitcoin killer". However, OneCoin could not be traded, and could not be used for buying things.
Here are some of the other lies Ignatova told her victims.
The company claimed that OneCoin's value was based on market supply and demand. However, investigators said that the value was actually decided arbitrarily by Ignatova and the other conspirators.
Another fake claim was that OneCoin was secured by a private blockchain, as opposed to a public blockchain like other cryptos. Investigators said that there was no blockchain at all. The company also said that the crypto was mined via servers, but investigators said that the crypto was not mined at all.
The crypto market is going through a low phase these days, with investors worried about inflation, recession, and geopolitical tension. However, the digital assets periodically see a wild rise in value, attracting investors in large numbers.
But cases like OneCoin should act as a cautionary tale for investors looking to make easy money. With crypto regulations yet to catch up, people need to be careful about where they put their hard-earned cash.

The enforcement department conducted searches across more than 40 locations of Chinese mobile manufacturers including Vivo and other firms, in relation to the violation of the Prevention of Money Laundering Act (PMLA). 
According to reports, the raids were going on at various premises in Uttar Pradesh, Madhya Pradesh, Bihar and a few southern states. 
This is the second big case that the ED has registered against a Chinese company. Earlier it had booked Chinese mobile manufacturer Xiaomi, for allegedly making illegal foreign remittances in violation of the Foreign Exchange Management Act. 
The scrutiny against Chinese firms tightened after tensions at the border between the two countries in 2020, leading to multiple rounds of talks. More than 200 mobile apps, including TikTok, have been banned since then. 

Crackdown on Chinese firms; ED raids 44 locations of Vivo  

The Enforcement Directorate conducted searches across more than 40 locations of Chinese mobile manufacturers including Vivo and other firms, in relation to the violation of the Prevention of Money Laundering Act (PMLA). 

The development comes amid the government's increased scrutiny for businesses that trace their origin to the neighboring country&nbsp;

The Enforcement Directorate conducted searches across more than 40 locations of Chinese mobile manufacturers including Vivo and other firms, in relation to the violation of the Prevention of Money Laundering Act (PMLA).&nbsp;
According to reports, the raids were going on at various premises in Uttar Pradesh, Madhya Pradesh, Bihar and a few southern states.&nbsp;
This is the second big case that the ED has registered against a Chinese company. Earlier it had booked Chinese mobile manufacturer Xiaomi, for allegedly making illegal foreign remittances in violation of the Foreign Exchange Management Act.&nbsp;
The scrutiny against Chinese firms tightened after tensions at the border between the two countries in 2020, leading to multiple rounds of talks. More than 200 mobile apps, including TikTok, have been banned since then.&nbsp;

A SpiceJet flight from Delhi to Dubai was diverted to Karachi on Monday after the fuel indicator of the aircraft started malfunctioning, officials of the aviation regulator Directorate General of Civil Aviation said.

SpiceJet: Delhi-Dubai flight lands in Pakistan's Karachi after fuel indicator malfunctions

A SpiceJet flight from Delhi to Dubai was diverted to Karachi on Monday due to an indicator light malfunctioning. 

SpiceJet: Delhi-Dubai flight lands in Karachi after fuel indicator malfunctions

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<div class="iRPxbe">
<div class="mCBkyc y355M ynAwRc MBeuO nDgy9d" role="heading" aria-level="3">Spicejet Flight Emergency Landing: The airline in its statement said that no emergency was declared due to malfunction and the aircraft made a normal landing safely at Karachi.</div>
</div>
</div>

Spicejet Flight Emergency Landing: A SpiceJet flight from Delhi to Dubai was diverted to Karachi on Monday after the fuel indicator of the aircraft started malfunctioning, officials of the aviation regulator Directorate General of Civil Aviation said.
The Boeing 737 Max aircraft started showing unusual fuel quantity reduction from its left tank when it was mid-air, according to the DGCA.&nbsp;
Also watch: <a href="https://www.editorji.com/india-news/on-camera-spicejet-flight-cabin-fills-with-smoke-flight-to-return-to-delhi-1656739559467">On camera: Spicejet flight cabin fills with smoke, flight to return to Delhi</a>
However, no visual leak was observed from the left tank during inspection at Karachi airport.&nbsp;
This is the sixth such incident on SpiceJet aircraft in the last 17 days.
DGCA is investigating all the six incidents.
The airline in its statement said that no emergency was declared due to malfunction and the aircraft made a normal landing safely at Karachi.&nbsp;
All passengers are reported to have disembarked safely.&nbsp;
The airline said passengers have been served refreshments and replacement aircraft is being sent to Karachi that will take the passengers to Dubai.
According to SpiceJet, no previous malfunction was reported with the Boeing 737 aircraft that was being used for the flight.&nbsp;
On Saturday, a Delhi to Jabalpur <a href="https://www.editorji.com/india-news/spicejet-delhi-dubai-flight-lands-in-karachi-due-to-indicator-light-malfunction-1657007517822" target="_blank">SpiceJet flight</a> was forced to returned to the capital after crew members observed smoke in the cabin at around 5,000-feet altitude.

Couldn't manage to have breakfast before leaving for work? No worries. You can now run with your dining table to save time. Mahindra Group chairman Anand Mahindra, who often shares quirky pictures and videos on twitter shared a video of a dining table that can move on its own!
In the clip, a group of four people can be seen sitting around the table on chairs attached to it, enjoying a meal. Complete with wheels, the table rolls towards a gas station where a man can be seen putting fuel in it.  Then, one of the persons kick starts the table and their table starts moving on the road. “I guess this is e-mobility. Where ‘e’ stands for eat,” he wrote.  

This moving dining table shared by Anand Mahindra is making rounds on internet

Moving dining table gets a thumbs up from Anand Mahindra

Couldn't manage to have breakfast before leaving for work? No worries. You can now run with your dining table to save time.&nbsp; Mahindra Group chairman Anand Mahindra, who often shares quirky pictures and videos on twitter shared a video of a dining table that can move on its own!
In the clip, a group of four people can be seen sitting around the table on chairs attached to it, enjoying a meal. Complete with wheels, the table rolls towards a gas station where a man can be seen putting fuel in it. &nbsp;Then, one of the persons kick starts the table and their table starts moving on the road.&nbsp; &ldquo;I guess this is e-mobility. Where &lsquo;e&rsquo; stands for eat,&rdquo; he wrote. &nbsp;

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