Deep Tide TechFlow news, on December 24, according to Cryptopolitan, the Enforcement Directorate (ED) of India conducted searches at 21 locations in Karnataka, Maharashtra, and Delhi, investigating a money laundering case involving a fraudulent cryptocurrency investment platform. The investigation revealed that this criminal network operated multiple counterfeit cryptocurrency investment platforms that mimicked real trading websites, promising abnormally high returns and luring both local and overseas investors in India.
The investigation found that the scammers used celebrity photos and the persona of so-called 'cryptocurrency experts' to build trust, promoted through social media, and paid small returns to early investors to attract larger investments. The criminal proceeds were laundered through channels such as cryptocurrency wallets, peer-to-peer transfers, shell companies, and underground money houses.
The law enforcement agency has issued a notice warning investors to stay away from multiple suspicious websites, including goldbooker.com and cryptobrite.com. This scam group has reportedly been operating since 2015.
