Hashpay was a cryptocurrency investment platform that allegedly promised investors daily returns of 1%, up to three times their investment, and referral commissions. According to the Enforcement Directorate (ED), the platform used fictitious cryptocurrencies, TCX and Hashpay, and displayed profits without actual trading activity. Money from new investors was allegedly used to pay earlier investors and agent commissions. The scheme reportedly collected Rs 112.91 crore before withdrawals were restricted, leaving investors with losses. The ED has provisionally attached assets worth Rs 14.16 crore, including properties, a BMW car and bank balances. Four accused are currently in judicial custody.
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