ED Raids ₹260 Cr Crypto Scam; Assets Seized Across India

TheCryptoTimesPublicado em 2025-08-03Última atualização em 2025-08-06

The Enforcement Directorate carried out investigations across multiple cities today in India, including Delhi, Noida, Gurugram, and Dehradun, in connection with a ₹260 crore global cryptocurrency scam. The operation targeted 11 locations tied to a cyber fraud network that posed as tech support agents for major firms like Microsoft and Amazon. 

As per local reports, the investigation, launched under the Prevention of Money Laundering Act (PMLA), stems from multiple FIRs filed by the Central Bureau of Investigation (CBI) and Delhi Police. 

As per the ED, the accused deceived victims, which included both Indian and foreign nationals, by impersonating customer support executives and even law enforcement officers. Fraudsters allegedly threatened to arrest the victims to extract money from them. 

According to reports, the extracted money was allegedly converted into cryptocurrencies, initially in Bitcoins, and then they were transferred to multiple other accused individuals.

Crypto Scams On The Rise

Crypto scams have been rapidly increasing globally. Earlier last month, Indian crypto Exchange CoinDCX was hacked on July 19, 2025. Hackers stole around $44.2 million from one of its internal accounts. 

Further, Peckshield, a blockchain security firm, reported a scam surge in July 2025. The report revealed a 27.2% increase in cryptocurrency scams as compared to June 2025. According to the report, hackers stole about $142 million in 17 major cases. 

Such scams and fraudulent activities have intensified efforts by governments and institutions to develop more robust systems aimed at safeguarding the global financial ecosystem.

Also Read: Scammers Use Crypto ATMs for Drug Funds, Elder Fraud: FinCEN

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