The Enforcement Directorate’s Bengaluru Zonal Office carried out search operations under the Prevention of Money Laundering Act at 21 locations in Karnataka, Maharashtra, and Delhi related to a financial fraud case involving “4th Bloc Consultants and others” and crypto currency-based investment platforms. The operations identified movable and immovable properties in India and abroad, along with several crypto wallet addresses. The accused individuals were found to have created fake cryptocurrency investment platforms, luring investors with promises of high returns and using deceptive marketing tactics. Funds were transferred through various illegal means, and assets created from the proceeds of the crime were traced. The ED is continuing its investigation into the matter.
ED conducts search operations in Karnataka, Maharashtra, Delhi over crypto fraud
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