Overview

• The seizure under PMLA stems from an August 2 order targeting assets linked to a US conviction for a $20 million crypto phishing scheme.
• Prosecutors estimate that about ₹600 crore in stolen cryptocurrency was traced through peer-to-peer platforms and domestic exchanges before conversion to rupees.
• Investigators say Chirag Tomar deployed SEO-ranked spoof Coinbase websites and call-center lures to harvest user credentials and divert funds.
• The action underscores growing cooperation between India’s Enforcement Directorate and US agencies in tracking and recovering cross-border crypto fraud proceeds.
• Officials report that the probe remains active as authorities work to identify additional assets and collaborators in the laundering network.