A Special Investigation Team (SIT) in India recently conducted extensive searches in the state of Himachal Pradesh as part of an ongoing investigation into an alleged crypto scam worth $240 million. The operation led to the arrest of Abhishek Sharma, one of the main accused who had been on the run.
A resident of Una district, Sharma was identified as one of the primary individuals involved in the scam that began its illicit operations in 2018. The alleged mastermind behind the multi-million crypto scam, Subash, is still at large. The scam revolved around promises of significant returns through an investment plan related to a locally created cryptocurrency known as “Korvio Coin” or KRO coin. Initially estimated to be around $24 million, ongoing investigations suggest that the scam could be as high as 2000 crore INR ($240 million).
