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Crypto India: ED Probes $35 Million OTC Crypto Scam
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
India’s Enforcement Directorate (ED) has launched a money laundering investigation into an alleged over-the-counter (OTC) crypto investment scam linked to discounted token offerings. The agency alleges the accused used Telegram groups, meetings, and false credentials to attract investors before failing to deliver promised tokens. Searches conducted on July 18–19 led to the seizure of digital devices, email accounts, crypto wallets, and about 8,700 USDT. The ED estimates the alleged scam is worth around $35 million, with further investigation underway.
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