The Hindu·3 min read·medium
Bengaluru: ED uncovers $35 million crypto OTC scam; digital assets worth 8,700 USDT seized
T
The Hindu Bureau
✦AI Summary
The Enforcement Directorate is investigating a $35 million cryptocurrency over-the-counter trading scam involving three individuals who allegedly defrauded investors. The accused used social media and fake promises of discounted tokens to lure victims before halting deliveries.
The Directorate of Enforcement (ED), Bengaluru Zonal Office, has launched a money-laundering investigation into an alleged $35 million cryptocurrency over-the-counter (OTC) trading scam, significantly larger than the $10 million fraud initially reported in the FIR.
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