India’s ED Cracks Down on Crypto Fraud Network in Multi-City Raids
India's Enforcement Directorate (ED) has intensified its crackdown on cryptocurrency-related financial crimes, uncovering a sophisticated investment scam operating through fraudulent online trading platforms. The December 24 raids across Ambala, Kurukshetra, Karnal, and Chandigarh yielded incriminating evidence including digital devices and documents, while freezing ₹22 lakh in suspicious bank accounts.
Authorities identified ₹3 crore worth of allegedly illicit properties, believed purchased with funds defrauded from investors through an entity called crypto World Trading Company. The operation highlights growing regulatory scrutiny of crypto scams targeting retail investors with false promises—a persistent challenge as digital asset adoption grows.
