Business
Cryptocurrency Hyper Fund under govt scanner

The government is keeping a close eye on cryptocurrency floating in the market based out of the country folowing alert that agencies responsible to check financial fraud are watching a company called Hyper Fund.
Sources said Hyper Fund, a DEFI by Hyper Tech Group has come under the radar recently. The Group claims to have launched the Hyper Fund to provide a decentralized financial infrastructure. Hyper Fund was announced in mid-2020.
As per the company website it is led by Ryan Xu, however, with the Multi-Level Marketing (MLM) model Hyper Fund has been luring investors with higher returns and such offerings, a common practice under Ponzi Schemes, that got the authorities alerted in the first place.
According to sources, complaints against such Funds have started pouring in several states. In India, the RBI, Union Finance Ministry and SEBI had warned people against cryptocurrency trading. The RBI is planning to launch India’s official digital currency- E Rupee soon.
The Finance Ministry has clarified that Virtual currencies are also not legal tender. Hence, VCs are not currencies. The RBI has also clarified that it has not given any licence/ authorization to any entity/ company to operate or deal with Bitcoin or any virtual currency.
In June 2018, Amit Bhardwaj was arrested at the Delhi Airport by Pune police along with his brother Vivek Bhardwaj in connection with an alleged Ponzi scheme. Bhardwaj, started his own bitcoin mining operations and allegedly cheated more than 8,000 people to the tune of Rs 2,000 crore from across the country.
He has lodged a complaint with the Delhi Police special cell, alleging that he received an extortion call and was asked to pay protection money on September 6, 2021. He had setup multi-level marketing (MLM) scam by luring investors to give him Bitcoins in return for promised higher returns, police had alleged.
Regulators in UK have issued warning against such fund and the Financial Conduct Authority (FCA) have warnings issued for both Hyper Fund and Fund Advisor.
On its website, which was first published on in March 23 ,2021 and later updated on August 31, the FCA said, “We believe this firm may be providing financial services or products in the UK without our authorisation. Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised or registered by us. This firm is not authorised by us and is targeting people in the UK.”
Warning investors about such fund, it further said: “You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.”
The Website used by these companies as per FCA ar http://thehyperfund.online, https://thehyperfund.com/
Decentralised Finance (DEFI) offering through blockchain technology by HyperTech Group, which is said to be based out from Hong Kong, as sources said Indian Regulators and Authorities have started monitoring the situation.
Following the measures taken by financial regulators such as the US Security and Exchange Commission and the UK’s Financial Conduct Authority, Indian regulators and enforcement authorities have started monitoring investment in Hyper Fund — a Decentralised Finance offering through blockchain technology by HyperTech Group.
Globally, Financial regulators acknowledge the fact that Ponzi scheme organizers often use the latest innovation, technology, product or growth industry to entice investors and give their scheme the promise of high returns. Potential investors are often less skeptical of an investment opportunity when assessing something novel, new or “cutting-edge.” On its website, Hyper Fund claims to be �The Strongest Rocket in Blockchain Finance’
disaster
Op Jal Rahat-2: Army rescues over 2,500 flood-hit people in Manipur

Imphal, June 5: As torrential rains and flooding continue to disrupt normal life in Imphal and surrounding areas, the Indian Army and Assam Rifles have been at the forefront of relief and rescue efforts under the ongoing ‘Operation Jal Rahat-II’ relief operation.
A Defence spokesman said on Thursday that since May 31, the Indian Army and Assam Rifles troops have been working tirelessly across multiple flood-affected localities in Imphal East and Imphal West districts, providing critical assistance to the flood-affected population within certain cases, without waiting for formal requisition.
Operating under extremely challenging conditions, the Indian Army and Assam Rifles have evacuated nearly 2,500 civilians to safety during the rescue operation so far.
Major evacuations took place in Imphal’s Wangkhei areas, where 778 individuals were rescued and at government-run Jawaharlal Nehru Institute of Medical Sciences (JNIMS) medical college and hospital, where 750 people, including 15 patients requiring urgent care, were safely evacuated.
Continuing the efforts in Imphal’s Khitai Chingangbam Leikai areas, 110 civilians were brought to safety, while 115 were rescued from Laishram Leikai, the spokesman said.
Rescue teams also evacuated 65 individuals from Lamlong and 75 from Heinjang areas, where operations included navigating through challenging terrain and fast flood stream due to breach in the Imphal River embankment.
He said that at other locations in Imphal East and West districts, an additional 408 people including 179 women and 92 children were extricated.
In a testament to their inclusive and compassionate approach, Indian Army and Assam Rifles personnel also carried out special missions to rescue three specially-abled adults from different locations.
The troops not only rescued stranded civilians but also established a medical camp providing aid to over 400 civilians, simultaneously carrying out defogging operations to mitigate health hazards caused by stagnant water.
Their rapid response helped prevent further deterioration of living conditions and safeguarded the health of the community.
According to the Defence spokesman, the unprecedented floods had left the local population struggling for survival, with clean drinking water becoming an urgent necessity in the flood-ravaged village of Soibam Leikai in Imphal East.
Responding swiftly to the crisis, a team led by an Indian Army Officer reached the village with essential supplies and an unwavering resolve to help.
Recognising the immediate need for safe drinking water, the Army established emergency drinking water distribution points, ensuring that the residents had access to clean and potable water.
Also, 5,750 litres of fresh water was supplied to fulfill the immediate requirement.
The official said that equipped with rescue boats, medical teams and essential relief materials, the Indian Army soldiers have been operating in close coordination with Assam Rifles and the civil administration.
The efforts of Indian Army and Assam Rifles reflect the ethos of ‘Service Before Self’ and unwavering commitment to safeguard the lives of citizens, the spokesman said.
He said that as flood relief operations continue, the Indian Army and Assam Rifles remain fully committed to supporting the people of Manipur during this crisis and would persist in extending every possible assistance to mitigate the impact of the ongoing natural disaster.
National
Bengaluru stampede: K’taka govt releases details of deceased; families raise questions

Bengaluru, June 5: The Karnataka government on Thursday released the details of the 11 people killed in the stampede near the Chinnaswamy Stadium in Bengaluru during the Royal Challengers Bengaluru’s (RCB) victory celebrations on June 4.
Among the dead, one hailed from Udumalapet near Coimbatore in Tamil Nadu, and the rest are from Bengaluru and other districts of the state.
According to the details shared by the Chief Minister’s Office, the deceased have been identified as 14-year-old Divyanshi, a resident of Yelahanka in Bengaluru; 26-year-old Akshata Pai, a resident of Karwar; 19-year-old Bhoomik, a resident of M.S. Ramaiah Layout in Bengaluru; 23-year-old Sahana, a native of Kolar; 19-year-old Chinmaya Shetty, a resident of Doddakallasandra in Bengaluru; 20-year-old Manojkumar, a resident of Nagasandra village in Tumakuru district; 20-year-old Shravana K.T., a resident of Kallahalli village in Chikkaballapura district; 17-year-old Shivu aka Shivalinga, a resident of Honigeri village in Yadgir district; 20-year-old Poornachandra, a resident of Rayasamudra village in Mandya district; 29-year-old Kamakshidevi, a resident of Udumalapet near Coimbatore in Tamil Nadu and 22-year-old Prajwal, a resident of Yelahanka New Town in Bengaluru are the deceased persons.
Laxman, the father of deceased Bhoomik (19), stated he was given information that his son was serious and asked to arrive at the hospital. “My son never watched cricket matches, he had gone along with his friends. I was informed that when the stampede occurred, there was no ambulance, and my son was shifted to the hospital in a police vehicle.”
He further expressed his outrage that he pays the government tax up to Rs 5 lakh per month, and the government wasn’t able to provide an ambulance to his son.
Suresh Babu, the father of deceased Sahana (23), stated his daughter informed him that she is going to attend the RCB victory celebrations at noon. “She had gone to the office in the morning, and later she went to the Chinnaswamy Stadium. “I wanted to see my daughter’s marriage and but now I am garlanding her dead body. She completed her engineering studies and worked at Bosch Company in Bengaluru for two years. She never caused us pain. I had asked her to be careful. The system has failed,” he stated.
The mother of the deceased, Prajwal (22), said she had to run from one hospital to another after being informed about the tragedy. She stated that Prajwal was her only son, and being a labourer, she managed somehow to complete the engineering course. “The government has snatched away my only son. Do they know how it feels to lose a son?” she asked.
The state government has announced Rs 10 lakh compensation for the families of the deceased and also ordered a magisterial probe.
The BJP has said that the deaths were government-sponsored murders and demanded the immediate resignation of Home Minister G. Parameshwara.
Taking cognizance of the stampede incident, the Karnataka High Court on Thursday registered a suo motu Public Interest Litigation (PIL) and sought a report from the Congress-led Karnataka government.
The division bench, headed by acting Chief Justice V. Kameshwar Rao, expressed concern over the tragedy.
Social activist Snehamayi Krishna filed a complaint with the Cubbon Park police on Thursday against Chief Minister Siddaramaiah, Deputy CM D.K. Shivakumar, office-bearers of the KSCA, and others. In his complaint, Krishna demanded that the police register the case under Section 106 of the BNS Act.
International
Trump signs proclamation banning travel from 12 nations

Washington, June 5: US President Donald Trump has signed a proclamation imposing a travel ban on 12 countries and restricting the entry of seven others to the US, citing national security concerns.
According to the proclamation, the 12 countries that were banned include Afghanistan, Burma, Chad, Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen.
Additionally, the order partially restricts and limits the entry of nationals of the following seven countries — Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan, and Venezuela.
The announcement of the ban followed a recent violent terror attack in Boulder, Colorado, on participants of a peaceful rally calling for the safe return of Israeli hostages from Hamas captivity.
“The recent terror attack in Boulder, Colorado, has underscored the extreme dangers posed to our country by the entry of foreign nationals who are not properly vetted, as well as those who come here as temporary visitors and overstay their visas. We don’t want them,” Trump said in a video statement released by the White House on Wednesday night.
Meanwhile, US Homeland Security officials said that the terror attack perpetrator in Colorado, Mohammed Sabry Solima, was allowed entry into the country under the former Biden Administration and overstayed his visa.
The White House Deputy Press Secretary Abigail Jackson took to social media stating that President Trump is protecting Americans from foreign actors who pose security threats to the country.
“President Trump is fulfilling his promise to protect Americans from dangerous foreign actors that want to come to our country and cause us harm. These commonsense restrictions are country-specific and include places that lack proper vetting, exhibit high visa overstay rates, or fail to share identity and threat information. President Trump will always act in the best of interest of the American people and their safety,” Abigail Jackson said on X.
The recent proclamation echoed a series of travel bans issued during the first term of Trump’s administration to seven majority-Muslim nations from coming to the US.
It included Iran, Iraq, Libya, Somalia, Sudan, Syria, and Yemen. The move witnessed legal challenges before President Joe Biden repealed it after he assumed office in 2021.
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