Indian Law Enforcement Agency Confiscated $1.2 Million In A Scam
India’s financial watchdog, Enforcement Directorate (ED), confiscated $1.2 million in an investigation of a fraud scheme relying on an App-based token, HPZ. Per an official press release published on September 29, several apps offered users to buy the HPZ tokens to have higher returns. And the investigations revealed that the “Chinese-controlled entities” were behind the […]
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Indian Enforcement Directorate has seized assets worth approximately $5 million in connection with an alleged cryptocurrency scam involving Morris coin that has duped investors out of $162 million. The crime proceeds were used to buy cryptocurrencies.
India Authorities Seize Assets in Alleged Crypto Scam Case
India’s Enforcement Directorate (ED), a specialized financial investigation agency under the Department of Revenue, Ministry of Finance, has seized assets valued at 36.72 crore rupees ($5 million) in connection with a cryptocurrency scam.
The ED began....
The Lithuanian State Tax Inspectorate exchanged Bitcoin, Ether and Monero for 6.4 million euro. The Lithuanian government has reportedly sold a batch of cryptocurrency seized by local enforcement agencies.The State Tax Inspectorate, or STI, the country’s tax authority, sold confiscated crypto assets worth 6.4 million euro ($7.6 million) and subsequently added the funds to the state budget.According to an official announcement on Nov. 24, the seized crypto assets included major cryptocurrencies Bitcoin (BTC) and Ether (ETH) as well as privacy-focused altcoin Monero (XMR).The STI said this....
Crypto exchange Binance was the prime assistant in an official investigation by Thailand’s law enforcement agency. The crypto trading venue often boasts about its cooperation with international regulators and law enforcement bodies and this time, it claimed to have taken a critical role in shutting down a crypto scam network. Related Reading: CZ Says Binance […]
A class-action lawsuit has reportedly been filed against a cryptocurrency scam that has duped many Indian investors. The scam, promoted in three Indian languages, lures investors by promising up to 900% return on investments. The Delhi court has directed a notice to be placed in major newspapers, seeking victims of this scam to come forward. Class-Action Lawsuit to Stop a Crypto Scam in India A representative lawsuit has reportedly been filed in order to stop a cryptocurrency scam from continuing to dupe Indian investors. The Delhi court last week directed a notice to be published in....
Notably, the cryptocurrency industry expanded its boundaries in India in recent years. But unfortunately, cybercriminals and crypto fraudsters also ramped up their efforts to loot investors’ hard-earned money in this sector. As a result, it put the law-enforcement forces on their toes and led government authorities to stricter regulations. Similarly, the Indian police force in […]