Bitcoin Fraud Unveiled: ED Seizes Dubai Assets in Laundering Probe

The Enforcement Directorate has seized assets worth over Rs 10 crore in connection with a Bitcoin investment scam. The assets, tied to the late Amit Bhardwaj, involve commercial properties in Dubai. The scam involved false promises of high returns on Bitcoin investments. Several arrests have been made, but key suspects remain at large.

In a significant development, the Enforcement Directorate (ED) has attached over Rs 10 crore in assets as part of a probe into an illegal Bitcoin investment scheme. This includes prime commercial properties in Dubai, linked to late Amit Bhardwaj.

The scam, which has seen a total of Rs 172 crore in assets attached and multiple arrests, involved promises of hefty monthly returns to investors in cryptocurrency. The proceeds were allegedly laundered, with suspects concealing Bitcoins in obscure online wallets, according to the ED.

While significant arrests have been made, key figures like Ajay and Mahendra Bhardwaj remain at large. The agency is seeking international cooperation to track funds believed to have been moved overseas, highlighting the global reach of this fraudulent operation.