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In August 2024, India’s Enforcement Directorate (ED) carried out its first-ever raids in Leh, Ladakh, to investigate a fake cryptocurrency scheme called Emollient Coin. The agency targeted six premises in Leh, Jammu, and Sonipat (Haryana), linked to accused operators A. R. Mir and Ajay Kumar Choudhary. About 2,508 investors were lured into investing over ₹7.3 crore by promises of doubling returns or a guaranteed 40% profit after a 10-month lock-in. The ED seized over ₹1 crore in cash and documents under the Prevention of Money Laundering Act. Prosecutors allege investors received neither returns nor cryptocurrency, as funds were diverted into real estate.