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Feb 20, 05:39 AM
Indian Authorities Seize $190 Million in BitConnect Scam; ED Pursues Global Fraud Investigation Involving 22,500 Crore Rupees
India
Regulation
Crypto
World

Indian Authorities Seize $190 Million in BitConnect Scam; ED Pursues Global Fraud Investigation Involving 22,500 Crore Rupees

Authors
  • TIMES NOW
  • ANI
  • The Hindu
9

Indian authorities have seized approximately $190 million linked to the BitConnect cryptocurrency scam, which is part of an ongoing investigation into a larger Ponzi scheme involving around 22,500 crore rupees ($2.7 billion). The Enforcement Directorate (ED) has been actively pursuing this case, recently attaching assets worth 1,646 crore rupees ($200 million) as part of their efforts. The ED plans to take the investigation to multilateral forums to address the global implications of the cryptocurrency fraud. In a related case, the ED has also provisionally attached properties valued at 10.11 crore rupees (approximately $1.2 million) belonging to Tamil film director S. Shankar, as part of a separate investigation into alleged plagiarism concerning the film 'Enthiran'.

Written with ChatGPT (GPT-4o mini).

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