ED seizes ₹8.46 crore linked to cyber scam involving Crypto accounts

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

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Source: Coinmarketcap

Updated: Nov 21 2025

Enforcement Action: The Enforcement Directorate (ED) has provisionally attached ₹8.46 crore across 92 bank accounts linked to a money laundering investigation involving cyber fraud through fake e-commerce platforms and mobile applications.
Fraud Mechanism: Victims were lured via WhatsApp, Telegram, and SMS campaigns with promises of high returns from part-time jobs or investments, leading to significant financial losses when withdrawal attempts failed.
Criminal Network: The investigation revealed a nationwide network of digital investment scams, with ₹285 crore in proceeds of crime being rapidly transferred through multiple bank accounts to evade detection.
Cryptocurrency Involvement: A portion of the illicit funds was converted into cryptocurrency, with the ED uncovering transactions involving USDT on platforms like CoinDCX, often using unverified accounts to facilitate the scams.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

ED seizes ₹8.46 crore linked to cyber scam involving Crypto accounts

About the author

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