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India Raids Alleged $275M Crypto Ponzi Scheme Network

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India’s Enforcement Directorate (ED) raided an alleged $275M **crypto** Ponzi scheme on Dec. 14. Subhash Sharma is named as the mastermind, with platforms like Korvio, Voscrow, DGT, Hypenext, and A-Global linked to the fraud. The scam reportedly defrauded hundreds of thousands of investors, causing losses of Rs. 2,300 crore. During the operation, the ED froze bank balances, lockers, and fixed deposits, while seizing property records and digital devices. The probe began after multiple FIRs were filed in northern states and is still ongoing.
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