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Indian Authorities Freeze $4.8 Million in Assets in Coinbase User Crypto Scam Case
Summary: According to reports, Indian enforcement agency (ED) is investigating a large-scale cryptocurrency fraud case and has frozen assets worth 428 million rupees (approximately $4.8 million) belonging to the main culprit Chirag Tomar and his relatives and related entities. Under the Prevention of Money Laundering Act (PMLA), the operation seized 18 immovable properties in Delhi and ...
According to reports, Indian enforcement agency (ED) is investigating a large-scale cryptocurrency fraud case and has frozen assets worth 428 million rupees (approximately $4.8 million) belonging to the main culprit Chirag Tomar and his relatives and related entities. Under the Prevention of Money Laundering Act (PMLA), the operation seized 18 immovable properties in Delhi and multiple bank accounts. Chirag Tomar is the mastermind behind a phishing scam targeting Coinbase users, which ran from mid-2021 to the end of 2023, luring users to fake Coinbase websites and using search engine optimization (SEO) techniques to steal around $20 million in cryptocurrency.
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Link: Indian Authorities Freeze $4.8 Million in Assets in Coinbase User Crypto Scam Case [Copy]
