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India’s ED Seizes $286M in Crypto Linked to OctaFX Ponzi Scheme, Mastermind Arrested

India’s ED Seizes $286M in Crypto Linked to OctaFX Ponzi Scheme, Mastermind Arrested

Author:

Global Cryptocurrency

Published:

2025-10-18 18:07:02

18

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BTCCSquare news:

India's Enforcement Directorate has confiscated cryptocurrency worth $286 million as part of an anti-money laundering investigation into OctaFX, a global Ponzi scheme that defrauded Indian investors of $225 million. The platform operated through a distributed network spanning multiple jurisdictions, deliberately evading regulatory scrutiny.

Spanish authorities arrested Pavel Prozorov, the alleged mastermind behind OctaFX, for cybercrimes affecting numerous countries. The scheme reportedly generated $96 million in profits between 2019 and 2024, with marketing operations based in the British Virgin Islands and technical infrastructure managed from Spain.

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