India’s ED Exposes 26 Fake Crypto Sites in Pan-India Fraud Scheme
India’s Enforcement Directorate has dismantled a sophisticated crypto fraud network involving 26 counterfeit investment platforms. The syndicate employed AI-generated content, stolen celebrity images, and Ponzi-like payout structures to defraud investors across India and internationally.
Operators mimicked legitimate crypto portals, luring victims through social media channels including Facebook, Instagram, and Telegram. Early investors received small payouts to establish credibility—a hallmark of multi-level marketing scams.
Identified domains such as goldbooker.com and cryptobrite.com used referral bonuses and fabricated expert endorsements to amplify recruitment. The scheme’s technical sophistication allowed it to bypass initial scrutiny from retail investors.
