26 Fake Trading Websites Exposed in ED's Crackdown on Pan-India Crypto Ponzi Scam
The Enforcement Directorate (ED) of India has uncovered a pan-India cryptocurrency scam involving 26 fake investment websites. According to the agency, a syndicate operating these platforms duped investors across India and abroad by mimicking legitimate crypto investment portals and promising astronomical returns.
These fraudulent websites are currently inaccessible, except for two.
| Websites | Website Page |
| goldbooker.com, fincorp.com, wozur.com, theapexpower.com, mygoldrev.com, cryptobrite.com, cryptexify.com, goldxcapital.com, hawkchain.com, cubigains.com, paymara.com, bitcodeals.com, hackandpool.com, turbominers.com, bitminerclub.com, bitrobix.com, primetrades.com, zylotrade.com, cryptobtctrade.com, cryptogames24hrs.com, hydrominers.com, bitleeds.com, bixotrade.org, metaaibox.com | / |
| growmore.com |  |
| jumboticket.network |  |
Investors were lured into investing, primarily through cryptocurrency transactions. The accused used photos of reputed crypto experts and celebrities without consent to build credibility.
Initial investors were paid small returns to gain trust, before larger sums were siphoned off. MLM-style referral bonuses were offered to expand the network of victims. Platforms such as Facebook, Instagram, WhatsApp, and Telegram were used to aggressively market their schemes.
Investigations revealed that the syndicate created multiple crypto wallets, foreign bank accounts, and shell companies to channel the proceeds of crime. Funds were transferred to India through hawala networks, accommodation entries, and peer-to-peer (P2P) crypto transactions.
According to the ED, the accused also utilized the proceeds of crime to create assets in India and abroad. The ED noted that the fraudulent operations have been active since 2015. The illicit proceeds generated in cryptocurrency were either used directly in crypto transactions or converted into cash and bank balances via P2P platforms. These illicit gains were then invested in movable and immovable properties both within India and overseas.
If you encounter suspected crypto fraud, report it without delay to the appropriate authorities. Need help verifying an investment opportunity? Ask a question on BrokersView.
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