BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Indian Court Denies Bail in $228M Crypto Fraud Case, Highlighting Regulatory Risks
Indian Court Denies Bail in $228M Crypto Fraud Case, Highlighting Regulatory Risks
22
2
BTCCSquare news:
The Himachal Pradesh High Court has refused bail to Abhishek Sharma, a key suspect in a $228 million cryptocurrency scam that defrauded 80,000 investors through platforms Voscrow and Hypenext. Justice Sushil Kukreja emphasized the societal impact of such economic crimes, noting Sharma's close association with absconded mastermind Subhash Sharma.
Despite acknowledging constitutional protections against prolonged detention, the court ruled the scale of the offense outweighed individual rights. The case underscores growing regulatory scrutiny of crypto investment schemes in India, particularly those promising unrealistic returns.
By:
