India Seizes $190 Million in BitConnect Crypto Fraud
- Indian authorities seized digital assets worth $190 million linked to the BitConnect scam.
- The Ponzi scheme defrauded over 4,000 investors of $2.4 billion globally.
- BitConnect founder Satish Kumbhani remains at large amid US charges.
- The scheme, launched in 2016, collapsed in 2018, leaving creditors empty-handed.
- India’s Enforcement Directorate also confiscated cash and electronic devices related to the case.
This major seizure highlights India’s strict approach to combating crypto-related fraud, as evidenced by their action against the BitConnect Ponzi scheme that deceived thousands of investors worldwide.
Source (2.6)https://hodl.press/india-seizes-190m-in-crypto-from-bitconnect-scheme/?rand=24434
