Indian National Scams Rs. 600 Crore with Fake Crypto Website

An Indian guy, Chirag Tomar, who is currently serving a prison sentence for defrauding over $20 million, was exposed once more. The Indian Enforcement Directorate discovered his and his family's involvement in a Rs. 600 crore cryptocurrency scam.

The ED investigated three major Indian cities: Delhi, Jaipur, and Mumbai, under the Foreign Exchange Management Act (FEMA). Tomar and his colleagues created fraudulent websites for cryptocurrency exchange services, such as Coinbase.pro.com, which is a duplicate of the actual website Procoinbase.com. They placed this fake website at the top of search engine results and deceived users into logging in with their credentials, which were linked to Tomar, and misled them into thinking there was a mistake.

When they called the customer support number mentioned on the fake website. It was directly transferred to Tomar's call center. Once fraudsters got access to victims' accounts, they quickly transferred their cryptocurrency investments to their wallets. They later sold these stolen digital assets on LocalBitcoins.com and converted them to INR via Indian cryptocurrency exchanges.

During the investigation, authorities traced Rs 15 crore, with some funds linked to Tomar's family. The ED froze several bank accounts connected to his family, totaling Rs 2.18 crore.

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