The Enforcement Directorate has executed raids in five major Indian cities, focusing on an extensive ₹260 crore crypto scam. Investigations are under the Prevention of Money Laundering Act, as several victims reported impersonation by scammers posing as tech support agents, raising concerns about investor security.
The increasing rates of crypto scams globally, exacerbated by incidents like the CoinDCX hack, underline the urgent need for stronger regulations. In July 2025 alone, cryptocurrency fraud surged by 27.2%. The situation necessitates enhanced government measures to protect the financial ecosystem.
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