India Cracks Down On $190M Crypto Fraud Tied To BitConnect
- Indian authorities have seized almost $190 million worth of crypto tied to the BitConnect Scam
- Authorities uncovered dark web transfers across many crypto wallets
The Indian law enforcement has seized about $190 million in cryptocurrency linked to the BitConnect Ponzi scheme. This is one of India’s biggest actions to combat crypto fraud.
The Enforcement Directorate (ED) in Ahmedabad has seized Rs 1,646 crore worth of digital currency in the BitConnect scam. Reports have it that investors were tricked into believing they were making secure securities investments.
Unraveling the BitConnect Crypto Ponzi Scheme
BitConnect was formerly a cryptocurrency platform that operated between 2016…
