India's Enforcement Directorate raids 21 locations in decade-long crypto scam using 26 fake platforms

Enforcement raids hit multi state network

India's Enforcement Directorate, a federal financial crime agency, raided 21 locations on 18 December 2025 across Karnataka, Maharashtra, and Delhi under the Prevention of Money Laundering Act. Officers targeted 4th Bloc Consultants and linked entities accused of running a cryptocurrency investment fraud since 2015. The agency described coordinated searches on offices, homes, and other premises connected to the scheme. Investigators seized digital devices, property records, and details of suspected bank and crypto accounts for further analysis.

Fake platforms and investor recruitment tactics

The network used fake cryptocurrency investment platforms that copied the appearance of real trading sites. These sites promised very high returns on deposits in bitcoin and other digital currencies. The Enforcement Directorate listed 26 websites, including goldbooker.com and cryptobrite.com, as part of the scheme. Promoters used photos of well known crypto commentators and celebrities without consent, and pushed referrals through Facebook, Instagram, WhatsApp, and Telegram to bring in new deposits.

The accused created fake cryptocurrency investment platforms that imitates genuine investment platforms advertising “astronomical returns”. — Enforcement Directorate, Government of India

Laundering routes and remaining unknowns

According to the agency, operators moved funds through multiple layers. They used crypto wallets, peer to peer transfers, foreign bank accounts, and hawala, an informal money transfer system. Suspects also created companies in India and abroad and bought real estate with alleged criminal proceeds. The Enforcement Directorate has not disclosed total fraud value, number of victims, or exact seizure amounts. Further action now depends on tracing flows from these 26 identified platforms into identified accounts and properties.