Indian law enforcement agency freezes 23.85 billion rupee crypto assets linked to OctaFX scam
2025-10-21 09:05:40
On October 21st, the Indian Enforcement Agency (ED) froze cryptocurrency assets worth 23.85 billion rupees (about 270 million US dollars) related to the OctaFX fraud in India. With this latest action, the total value of assets seized and frozen in the OctaFX case has reached 26.81 billion rupees. The main culprit in the case, Pavel Prozorov, has been arrested in Spain, and the Indian side is pushing for extradition proceedings. Investigations revealed that OctaFX lured investors through an unauthorized foreign exchange trading platform, defrauded Indian investors of 18.75 billion rupees between July 2022 and April 2023, and used shelf companies and cryptocurrency channels to transfer funds. Previously, the law enforcement bureau has seized physical assets such as yachts and luxury houses. This freeze action against cryptocurrencies reveals a new path for the laundering of funds in this case.
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