According to the ED, the accused allegedly induced investors to purchase discounted cryptocurrency tokens promising preferential allocations that were either only partially delivered or not supplied at all.
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The Directorate of Enforcement (ED), Bengaluru Zonal Office, has launched a money-laundering investigation into an alleged $35 million cryptocurrency over-the-counter (OTC) trading scam, significantly larger than the $10 million fraud initially reported in the FIR.
The probe under the Prevention of Money Laundering Act (PMLA), 2002, stems from an FIR registered by the Cyber Crime Police Station,…
