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India has made a significant breakthrough in its ongoing investigation into the massive BitConnect Ponzi scheme. According to recent reports, Indian authorities have confiscated a staggering amount of cryptocurrency worth approximately ₹1,646 crore ($190 million) linked to the fraudulent investment platform.
The Enforcement Directorate (ED), Ahmedabad, conducted raids on February 11 and 15, seizing assets under the Prevention of Money Laundering Act (PMLA), 2002. Additionally, officials confiscated a sum of ₹13,50,500 ($15,582) in cash, along with luxury vehicles and electronic devices.
This massive seizure is a result of an investigation that began after First Information Reports (FIRs) were filed by the Crime Investigation Department (CID) in Surat.
Source: coinchapter.com
