In a major crackdown on cryptocurrency scams, the Enforcement Directorate (ED) has seized digital assets worth Rs 17.20 crore from multiple wallets in Haryana. The raids, executed on February 24 at six locations, were carried out under the Prevention of Money Laundering Act (PMLA), 2002.
The Chandigarh zonal office of the ED identified Mahesh Kumar and his associates as the masterminds behind the scam. Besides the cryptocurrency, several mobile phones used to access these wallets were also confiscated, with forensic examinations expected to unearth more incriminating evidence.
The operation was conducted after a First Information Report from Haryana Police, coupled with a victim’s complaint. The investigation revealed the scam was orchestrated by Mahesh Kumar from Hissar and his three accomplices from Bhiwani, who lured investors with false promises of high returns, generating significant illegal funds.
(With inputs from agencies.)