Crypto Scam in India: Rs 42.8 Crore Vanishes, Assets Get a Time-Out

by

When Crypto Gets Creepy: The Great Indian Digital Heist 🕵️‍♂️💸

  • Enforcement Directorate puts assets on a digital timeout-like a Nanny with a very serious hangover.
  • Victims lured by websites that looked suspiciously like the real deal-think of it as digital cosplay gone rogue.
  • The proceeds made a sneaky escape route-family accounts and fancy real estate-because, why not?

Chirag Tomar, who’s currently enjoying a continental vacation-well, technically imprisoned in the US-is now realizing that in India, assets don’t just vanish into thin air. No, sir. They get attached, frozen, and put on ice, all Rs 42.8 crore of it. Apparently, this is what happens when you try to turn online scams into real estate empire-your assets get a global game of “Freeze Tag.” 🏢💰

The $20 Million Crypto Magic Trick-Now You See It, Now You Don’t

Turns out, Tomar’s clever illusion involved setting up fake websites that looked just like Coinbase, only less trustworthy. Thanks to some SEO wizardry, these fake sites ended up higher on search results than their legitimate counterparts-because what’s better than a convincing disguise? Clearly, nothing.

Victims, expecting to log into their actual crypto accounts, unwittingly handed over their keys to the digital kingdom. When the login didn’t work, they called the numbers on the phony sites-probably thinking, “Oops, I’ve dialed the Lord of Misrule.” Tomar’s call centers then made sure to squeeze them a little harder, like a lemon at a teahouse, to get the passwords and access to their crypto treasure chests.

Once inside, the digital loot was whisked away faster than a magpie at a jewelry store. These scammers trafficked the stolen cryptocurrencies onto shady peer-to-peer exchanges, converting bits of code into Indian Rupees, and then into real estate titles. The properties in Delhi could probably have their own postal codes by now.

Like a Digital Buzzsaw, Cutting Through Lies

On August 2, 2025, the ED slapped a big ol’ freeze on Tomar’s assets, including his family’s assets-because the family that scams together stays frozen together. The focus now is tracking down the trail of cash-because every rogue rupee has a story, even if nobody’s listening.

An ED official was heard saying, “We’re hot on the money trail, and we’re not planning to stop-like a detective with a plot twist, this investigation is only just beginning.” Meanwhile, the authorities continue to hunt more assets, proving that even in the digital age, you can’t outrun the law (unless you’re a particularly clever hacker, in which case, good luck).

The Big Picture: Crypto Crime, The Legal Circus, and How To Not Get Fooled

This saga is a perfect illustration of how crypto security sometimes resembles a sieve-lots of holes and not enough zeroes. Search engine tricks and fake websites? Simple. Victims left with empty wallets? Unfortunately, also simple. And when all is said and done, they have precious few options-they might as well talk to the mirror and hope some fairy godmother appears.

India’s authorities are now more than ever keen on cracking down on cross-border crypto mischief-think of it as trying to herd digital cats across the world. Working with foreign agencies is kind of like trying to coordinate a global conga line-difficult, but necessary.

Tomar’s tale is a handy warning: cyber crooks are not just blowing digital smoke-they’re risking property seizures, lawsuits, and facing the long arm of the law. With worldwide crypto crimes soaring faster than a rocket on launch day, this kind of crackdown might just be the wake-up call everyone needs-because nobody wants their crypto to turn into an international game of Monopoly with no winner.

Read More

2025-08-06 22:55