ED Uncovers Massive Rs 2,300 Crore Cryptocurrency Ponzi Scheme Across Himachal Pradesh and Punjab

Dec 14, 2025 08:14 pm CST

The Enforcement Directorate has conducted raids across Himachal Pradesh and Punjab, exposing a sophisticated Rs 2,300 crore cryptocurrency Ponzi scheme. Operating through multiple unregulated platforms, the scammers manipulated token prices and laundered proceeds through complex networks. The primary suspect, Subhash Sharma, fled India in 2023 while authorities have frozen assets and continue investigating this large-scale financial fraud.