India’s Growing Crypto Scam Network: $1.4M BTCFUND Case

• ED has provisionally attached $895,730 from Hemant Ishwar Sharma, for a BTC scam, totaling $1,374,174.
• Sharma lured investors via BTCFUND.IS with high returns, false claims, and a funded lavish lifestyle.
• ED continues probe under PMLA as attachments recover proceeds from India’s growing BTC investment frauds.

On 31 July 2026, the Enforcement Directorate’s (ED) Dehradun office provisionally attached assets worth approximately ₹8.54 crore (about $895,730) belonging to Hemant Ishwar Sharma under the Prevention of Money Laundering Act (PMLA). The action was taken in connection with a Bitcoin (BTC) scam via Iceland-registered BTCFUND.IS, raising the case total to ₹13.10 crore (about $1,374,174).

ED Attaches Additional ₹8.54 Crore Assets in the BTCFUND.IS Case

ED’s sub zonal office issued a provisional attachment order PMLA, 2002, attaching assets worth a…

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