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.
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