ED Attaches ₹14 Cr Assets In HashPe Crypto Ponzi Fraud Case

The Enforcement Directorate (ED) has attached assets worth around ₹14.2 crore in connection with a crypto Ponzi fraud case involving Pan India Cryptocurrency, HashPe. The assets include immovable properties in Tamil Nadu, Haryana, and New Delhi, a BMW car, and funds in bank accounts. The ED has filed a prosecution complaint before the Special Court (PMLA), Puducherry, based on an FIR registered by the Cyber Crime Police Station, Puducherry.

The investigation found that HashPe operated a fraudulent cryptocurrency-based ponzi scheme that promised daily returns of 1%, up to 3X the invested amount, referral commissions, and rewards such as luxury cars and foreign trips. The scheme allegedly used USDT (Tether) and Bitcoin for transactions, but the trading activities were not backed by actual cryptocurrency trading.

Instead, money collected from new investors was used to repay earlier investors and pay commissions to agents. The ED has identified around ₹49.54 crore as proceeds of crime in the case.

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