On August 6, the Enforcement Directorate of India launched an investigation into a large-scale cryptocurrency fraud case, freezing assets worth 428 million rupees (approximately $4.8 million) belonging to the fraudster Chirag Tomar, his relatives, and related entities. The enforcement action was executed under the Prevention of Money Laundering Act (PMLA), including the seizure of 18 properties in Delhi and multiple bank accounts.
Chirag Tomar was the main orchestrator of a cryptocurrency phishing scam that ran from mid-2021 to the end of 2023, primarily targeting Coinbase users. He created fake websites mimicking the Coinbase cryptocurrency trading platform or used search engine optimization (SEO) techniques to lure users into logging in, thereby stealing cryptocurrency worth approximately $20 million.
