Indian authorities have seized nearly $190 million worth of cryptocurrencies linked to Bitconnect as part of an ongoing investigation into the global Ponzi scheme that collapsed in 2018.
As reported by a local publication on February 15, the Enforcement Directorate (ED) in Ahmedabad has seized cryptocurrencies valued at Rs. 1,646 million during its investigation into the BitConnect cryptocurrency fraud.
In addition to the cryptocurrency, the ED also seized other assets, including Rs. 13,50,500 (approximately $15,582), a sports utility vehicle (SUV) and electronic devices, during raids conducted in Gujarat on February 11 and 15.
These seized assets are reportedly linked to associates of Bitconnect, which allegedly caused 4,000 investors in 95 countries to lose some $2.4 billion.