Indian Authorities Confiscate $190M from BitConnect Fraud

Quick Summary:

Indian officials have confiscated $190 million approximately Rs 1,646 crore during its investigation into BitConnect cryptocurrency fraud.

The investigation was done by the Enforcement Directorate (ED), Ahmedabad as  part of the ongoing investigation into the global Ponzi scheme, which collapsed in 2018.

ED also revealed an interesting incident regarding this where two victims of this case handle things personally.

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Article Details

Author / Journalist: Zayan

Category: Crypto

Markets: United Arab EmiratesIndia

Topics: Market News Altcoin Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-16 @ 19:15:00 (1 weeks ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 280 words

Reading Time: 2 minutes read

Sentences: 28 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 26204591

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 14 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 11 hours ago

Coverage Areas: United Arab Emirates

Publication Timezone: GMT +0:00

Content Availability: Worldwide

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Publisher ID: #125

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