Chinese Nationals Charged in Rs 1000 Crore HPZ Token Cryptocurrency Scam During Covid Pandemic

Dec 11, 2025 02:33 am CST

The CBI has charged two Chinese nationals in connection with the HPZ Token investment fraud, a sophisticated cryptocurrency scam that defrauded Indian citizens of over Rs 1000 crore during the Covid pandemic. The fraudsters operated through shell companies and payment aggregators to launder money, with the masterminds now fugitives operating from abroad. This case reveals part of a larger cyber crime network targeting vulnerable Indians through various financial scams.