ED Cracks Down on ₹260 Crore Crypto Scam – Assets Frozen Nationwide
India's Enforcement Directorate strikes hard against a massive cryptocurrency fraud scheme.
Digital heist unraveled:
Authorities swoop in on a sprawling ₹260 crore ($31M) crypto scam, seizing assets across multiple states. The ED's raid exposes yet another case of 'blockchain bandits' exploiting regulatory gray zones.
Follow the (frozen) money:
While investigators track the paper trail, the case highlights crypto's Wild West reputation in emerging markets. 'Another day, another crypto scam' mutters a Mumbai-based banker counting his physical rupees.
The compliance wake-up call:
This bust proves even decentralized schemes eventually face centralized justice. Will this slow India's crypto adoption—or just push scammers to get more creative?
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
