The Directorate of Enforcement (ED), Shimla, conducted search operations at eight premises in Himachal Pradesh and Punjab on December 13, 2025, in connection with a massive crypto-based Ponzi and MLM scam that duped investors of approximately INR 2,300 crore. The investigation targets Subhash Sharma, who fled the country in 2023, and his associates for offences under IPC, the Chit Funds Act, and the Banning of Unregulated Deposit Schemes Act. The accused allegedly ran fraudulent platforms including Korvio, Vosrov, DGT, Hypenext, and A-Global, manipulating token prices, rebranding platforms, and luring investors with false promises. ED seized bank accounts, lockers, digital devices, and "benami property documents", while freezing assets worth INR 1.2 crore, highlighting large-scale laundering of illicit proceeds. The ED said that the investigation was ongoing. WhatsApp New Feature Update: Meta-Owned Platform Launches Missed Call Messages, Status Stickers and Channel Questions; Check Details.

Enforcement Directorate (ED) Raids Himachal and Punjab Crypto Ponzi Scam

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