India's Enforcement Directorate in Bengaluru carried out raids at multiple locations on July 18 and 19 under the Prevention of Money Laundering Act in a case involving an over-the-counter virtual asset fraud targeting overseas investors. According to Odaily, the group used private social media channels to claim it could supply MultiversX, Kava, BEAM, GRASS, SUI, VANA, and AGLD tokens at discounted prices to lure foreign investors into sending funds.
Authorities seized electronic devices, wallet credentials, and crypto assets worth 8,700 USDT during the operation. The enforcement agency said it is continuing to expand leads and investigate the full criminal network.
India's Enforcement Directorate Raids Sites in Overseas Crypto OTC Fraud Probe
2026-07-21 12:35:39
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