Close Menu
Cryprovideos
    What's Hot

    Crypto’s Worst Six Months But? North Korea Hacks Lead $2.1B in Thefts

    June 27, 2025

    Bybit Expands World Attain with Credit score Card Crypto Purchases in 25+ Currencies and Cashback Rewards

    June 27, 2025

    BloFin Empowers Customers with Coin-Margined Perpetual Buying and selling Answer

    June 27, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Crypto News»Authorities in India Seize $190,000,000 in Crypto Property Associated to 2018 BitConnect Ponzi Scheme: Report – The Day by day Hodl
    Authorities in India Seize 0,000,000 in Crypto Property Associated to 2018 BitConnect Ponzi Scheme: Report – The Day by day Hodl
    Crypto News

    Authorities in India Seize $190,000,000 in Crypto Property Associated to 2018 BitConnect Ponzi Scheme: Report – The Day by day Hodl

    By Crypto EditorFebruary 17, 2025No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Regulation enforcement authorities in India reportedly seized crypto belongings linked to the BitConnect Ponzi scheme that defrauded a whole lot of victims earlier than collapsing in 2018.

    Indian Categorical experiences that the Enforcement Directorate (ED) seized Rs (Indian Rupee) 1,646 crore or practically $190 million in crypto belongings throughout its investigation of BitConnect.

    The company, which is in command of implementing financial legal guidelines and combating monetary crimes in India, additionally seized Rs 1.35 million ($15,550), an SUV and digital gadgets throughout searches within the Indian state of Gujarat on February eleventh and fifteenth.

    The ED says that from November 2016 to January 2018, the individuals behind the scheme allegedly amassed funds from traders all over the world, together with members situated in India. 

    BitConnect co-founder Satish Kumbhani allegedly established a community of promoters who obtained commissions once they enticed traders into depositing money and Bitcoin (BTC) into the purported lending program. 

    The promoters additionally posted fictitious info on the BitConnect net portal, claiming a mean of 1% returns per day or about 3,700% per 12 months. 

    The ED says that regardless of BitConnect’s illustration that it may generate as much as 40% month-to-month returns utilizing a proprietary buying and selling bot, the perpetrators of the scheme didn’t use the invested funds for buying and selling however deposited them into digital wallets that they managed.

    Authorities additionally say the crypto wallets carried out transactions via the darkish net to make them untraceable, however by following on-chain transactions and gathering floor intelligence, the company recognized the wallets and the situation of the gadgets that held the cryptocurrencies.

    Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox

    Examine Value Motion

    Observe us on X, Fb and Telegram

    Surf The Day by day Hodl Combine

    &nbsp

    Authorities in India Seize $190,000,000 in Crypto Property Associated to 2018 BitConnect Ponzi Scheme: Report – The Day by day Hodl

    Disclaimer: Opinions expressed at The Day by day Hodl usually are not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any losses it’s possible you’ll incur are your accountability. The Day by day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please observe that The Day by day Hodl participates in internet online affiliate marketing.

    Generated Picture: Midjourney





    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Crypto’s Worst Six Months But? North Korea Hacks Lead $2.1B in Thefts

    June 27, 2025

    Bybit Expands World Attain with Credit score Card Crypto Purchases in 25+ Currencies and Cashback Rewards

    June 27, 2025

    U.S. Authorities to Move Crypto Market Laws by September 2025: Right here is What We Know ‣ BlockNews

    June 27, 2025

    XRP Value Declines Again To $2 As Authorized Dispute With SEC Continues

    June 27, 2025
    Latest Posts

    Is Bitcoin a Missed Alternative? This Billionaire Begins to Marvel

    June 27, 2025

    5 Finest Meme Cash to Purchase Earlier than The Subsequent Bitcoin Bull Run

    June 27, 2025

    Bitcoin Whales Again as Wallets Hit 3-Month Excessive, Will Worth Comply with?

    June 27, 2025

    Kraken Secures MiCA License To Provide Bitcoin And Crypto In Europe

    June 27, 2025

    Coinbase Inventory Hits ATH as Brian Armstrong Buys Bitcoin Weekly: Time for BTC Bull Token?

    June 27, 2025

    Is 0.1 Bitcoin the New American Dream? CZ, Saylor, and Pulte Assume So

    June 27, 2025

    5 Finest Cryptos to Purchase Now – Solana, Kangaroon, SwissBorg, BTC Bull, Mixie

    June 27, 2025

    FHFA Orders To Acknowledge Bitcoin And Different Cryptos In Mortgage Assessments

    June 27, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Russian Social Media Big VK Shuts Down Its NFT Market

    April 8, 2025

    Binance Lists ChainGPT (CGPT): Unlocking a New Period for AI-Powered Blockchain Options | Dwell Bitcoin Information

    January 10, 2025

    Bitcoin Worth Prediction: As BTC Plunges Under $100K, This Crypto Pockets Presale Rockets Previous $5M

    December 20, 2024

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.