ED seized cryptocurrency worth Rs 2,385 crore in the OctaFX money laundering case. The mastermind was arrested from Spain.

ED has seized cryptocurrency worth ₹2,385 crore from the foreign currency (forex) trading platform OctaFX. The action was taken under the Prevention of Money Laundering Act (PMLA).

It is alleged that OctaFX defrauded Indian investors of ₹1,875 crore by operating a forex trading platform without the RBI's permission and illegally transferring ₹5,000 crore in profits abroad.

ED stated that the mastermind of the scam, Pavel Prozorov, has been arrested by the Spanish police. The scam money was held in Prozorov's crypto wallets, while some amount was reinvested in India as FDI. Luxury yachts and foreign properties were also purchased with this money.

Money laundering ne

See Full Page