BitConnect Ringleader Tracked to India, $190M Seized

CosmicTaco · 2025-02-17T12:12:46.744040+05:30

- Indian authorities seized $190M in crypto tied to the BitConnect scam, marking a significant enforcement action. - Founder Satish Kumbhani, traced to Ahmedabad, had defrauded over 4,000 investors across 95 countries, amassing $2.4B. - The ED conducted raids, confiscating digital assets and other valuables, with ongoing probes aimed at victim restitution. Source: [Reuters](https://www.dlnews.com/articles/regulation/bitconnect-crypto-scam-ringleader-tracked-to-india-while-authorities-seize-190m/)

Indian authorities seized $190M in crypto tied to the BitConnect scam, marking a significant enforcement action.
Founder Satish Kumbhani, traced to Ahmedabad, had defrauded over 4,000 investors across 95 countries, amassing $2.4B.
The ED conducted raids, confiscating digital assets and other valuables, with ongoing probes aimed at victim restitution.

Source: Reuters