Indian law enforcement agency searches for cryptocurrency fraud case involving $35 million

On July 18-19, the Bangalore branch of the Indian Law Enforcement Agency conducted raids on multiple locations in accordance with the Anti Money Laundering Act, investigating a virtual asset off exchange trading fraud case targeting foreign investors. The criminal gang claimed through social private domain channels that they could offer discounted tokens such as MultiversX, Kava, BEAM, GRASS, SUI, VANA, AGLD, etc. to induce investors to invest funds. The amount involved in this case is approximately 35 million US dollars. This operation resulted in the confiscation of electronic devices, wallet vouchers, and cryptocurrency assets worth 8700 USDT.