India Confiscates $189 Million in Crypto Tied to BitConnect
Indian authorities have taken a significant step in the long-running investigation into the BitConnect scam.
The Enforcement Directorate (ED) in Ahmedabad has seized cryptocurrency assets valued at $189 million, marking a major breakthrough in the case.
Indian Officials Confiscate $189 Million in Digital Assets Tied to BitConnect
The ED’s operation, conducted under the Prevention of Money Laundering Act (PMLA), reportedly led to the confiscation of digital assets linked to BitConnect’s operators. Authorities also seized over $15,000 in cash, a luxury vehicle, and several electronic devices during the raid.
BitConnect operated between November 2016 and January 2018, deceiving investors out of an estimated $2.4…
