India’s law enforcement agency targets virtual-coin OTC scams, luring foreigners by waving the banner of discounted tokens. With 8,700 USDT, it gets deducted immediately if they say so, and the number of coin types involved is also fairly large.

Crypto news, Wu Shuo learned that the Enforcement Directorate (ED) Bengaluru branch searched multiple locations from July 18 to 19 under the Prevention of Money Laundering Act (PMLA) to investigate a virtual digital asset OTC (over-the-counter) fraud case. The individuals involved are allegedly luring foreign investors by offering discounted tokens such as MultiversX, Kava, Beam, Grass, SUI, Vana, and AGLD as bait. Law enforcement has seized digital devices and virtual digital assets worth approximately 8,700 USDT, and the case is still under investigation.