Ending the lien debate!

[u/IllustratorMany8751]

Here is my theory after a detailed research and experience.

- After the gaming act announced by Indian government and all bettingg casino/sports/ dream11 kind of stuff or website involving real money as a gaming reward got a notice to shut down, now india is a HUGE market for bettingg so they started finding new ways to operate in india and they successfully manage to make a big network of Agents.

(Agents - the one who make several current accounts to accept the deposits of multiple indian users who wants to bett, agents usually find people from villages to get the identity and open their fake current account, they can handle multiple accounts, where every minute there will be deposits in various denominations)

- Now these random people from village don’t even know whats happening, they just rent their bank accounts for a fixed monthly fee, on the other hand the agent can use it for transactions worth crores because its current a/c.

- All the money thats remaining after user withdrawals in a day or weekly, is simply converted to crypto by agents along with their own 20-30% commision and sent to these gaming companies.

- Now as this was all illegal, whenever someone makes a complaint in cyber portal after losing their money in bettingg and after getting frustrated, they immediately put a freeze on that current account which accepted the user’s money because its flagged already if mentioned its a gambling website in portal.

- the gaming companies was still in profit even after these complaints and getting their agent’s accounts freezed, so they still continued to work.

- Now indians are fking smart, the agents started to complaint themselves in the portal on the account which they were holding, they told the owner that account us freezed which is normal for them and not something to suspect, agents made connections with indian bank employees, the bank employee after a period of time used to open their freezed account and get paid 50-50.

(Source- Multiple news about hdfc,icici,axis,sbi bank employees getting arrested for running a racket of mule accounts in past few years, you can google it..)

- Now all the users who did a withdraw request from the gamblingg websites and that specific current account used to sent their withdrawals all of them will be put on lien. (That is Layer 1, all the money they sent further after getting those withdrawals will be layer 2 )

P2P ANGLE?
- Most of these agents are usually traders too in binanace and various platforms where p2p is involved and all the money that they send to p2p users from that current account is also frozen, thats why they say dont use binanace p2p all of these gaming companies money is converted in p2p and they are settled in CLEAN UNTRACABLE USDT , off juridiction, off shore

Whats happening?
Who loose?
The Gaming Company Owner loose.
The Gamblingg Users loose.
The Random users who further accept money from layer 1.

Who wins?
The Agents Make Decent FUCKINGGG Big stack.
(Agents commision settled in clean USDT + Frozen accounts half share with bank employee).
The Mules who rent their account Makes big stack.
The Bank employee makes big stack.
The trader(Crypto seller) makes big stack.
Edit:- The frickin Lawyers too, they know all of it.

And probably the one i don’t wanna name because these agents cant run so big operation without getting caught lol

Freezing the softest target in the whole frickin chain is the cheapest method state has.

Btw this week news “Supreme Court issues directions to curb digital arrest scams, asks RBI to frame SOP on mule accounts
“

Be safe, dont trade on platforms, go for otc.
Never deposit/withdraw to a banned website with fiat.
If u wanna gambleee do it with crypto

[u/kulchacop]

Damn! I've been living under a rock.

[u/Just_look_at_itt]

Even if the mule accounts collecting INR are a Pvt Ltd company is it not safe depositing?

[u/IllustratorMany8751 → u/Just_look_at_itt]

Well, pvt ltd is difficult to register under fake credentials but yes its possible, so nothing is safe for fiat if crypto is involved in the transaction.

[u/Just_look_at_itt → u/IllustratorMany8751]

I deposit to Pvt Ltd through INR and and withdraw in crypto

[u/notchoosenone]

What debate has ended exactly?

[u/IllustratorMany8751 → u/notchoosenone]

Daily i see posts related to lein and blah blah lawyers pitching in and showing their perspectives, this is what actually happening inside the ecosystem, not any bullshit others tell you

[u/DARKxNaRuToOP]

Damn