Indian authorities seized cryptocurrency worth $190 million as part of the investigation into the fraudulent BitConnect scheme that attracted over $2.4 billion from investors

Indian authorities seized cryptocurrency worth $190 million as part of an investigation into the BitConnect case, a global financial scheme that promised investors returns of up to 40 percent per month. The operation was carried out on February 11 and 15 in Gujarat, during which cash, digital devices, and vehicles were also seized. BitConnect operated from 2016 to 2018, attracting more than $2.4 billion from participants before being exposed as a fraudulent scheme. The investigation is ongoing, and foreign nationals are also among the accused.