Indian Enforcement Agency Raids Cryptocurrency Scam Targeting Foreign Investors

The Enforcement Directorate's Bangalore branch conducted a series of raids from July 18 to 19 under the Prevention of Money Laundering Act, targeting multiple locations involved in a virtual asset over-the-counter trading scam aimed at overseas investors. The criminal gang claimed to offer discounted tokens such as MultiversX, Kava, BEAM, GRASS, SUI, VANA, and AGLD through private social channels, luring foreign investors to invest funds. This operation has resulted in the seizure of electronic devices, wallet credentials, and cryptocurrency assets valued at 8,700 USDT, with law enforcement continuing to expand leads and delve deeper into the complete criminal chain.

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