India Seizes Assets in $162M Morris Coin Cryptocurrency Investment Scheme

India Seizes Assets in $162M Morris Coin Cryptocurrency Investment Scheme


Indian Enforcement Directorate has seized assets worth approximately $5 million in connection with an alleged cryptocurrency scam involving Morris coin that has duped investors out of $162 million. The crime proceeds were used to buy cryptocurrencies.

India Authorities Seize Assets in Alleged Crypto Scam Case

India’s Enforcement Directorate (ED), a specialized financial investigation agency under the Department of Revenue, Ministry of Finance, has seized assets valued at 36.72 crore rupees ($5 million) in connection with a cryptocurrency scam.

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The ED began investigating the scheme after a first information report (FIR) was registered by the Kerala Police under the Indian Penal Code. Multiple other FIRs were subsequently registered by police in other districts.

The scheme involves a nonexistent cryptocurrency called Morris coin. Nishad and his companies

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