According to Mars Finance, the Indian Enforcement Directorate (ED) has launched an investigation into a large-scale cryptocurrency fraud case, freezing assets worth 428 million rupees (approximately 4.8 million USD) belonging to the main suspect Chirag Tomar, his relatives, and related entities. Under the Prevention of Money Laundering Act (PMLA), the operation seized 18 properties in Delhi and multiple bank accounts. Chirag Tomar is the mastermind behind a phishing scam targeting Coinbase users, which has been ongoing since mid-2021 and is expected to continue until the end of 2023. The scam involved creating a counterfeit Coinbase website and using search engine optimization (SEO) techniques to lure users into logging in, resulting in the theft of approximately 20 million USD in cryptocurrency.