ED Arrests Masoom Juneja in ₹500 Crore Korvio Coin Scam

India's Enforcement Directorate (ED) has launched an investigation into a cryptocurrency fraud case involving Korvio Coin (KRO). The ED arrested Masoom Juneja in connection with the ₹500 crore scam, which allegedly defrauded over 2.48 lakh investors.

The probe uncovered evidence of a crypto-based multi-level marketing (MLM) scheme operated by Subhash Sharma and his associates. Authorities claim that illicit funds were routed through multiple accounts, converted into cryptocurrency, and used to purchase properties.

The ED will continue tracing the proceeds of crime and examining financial links between the accused under the Prevention of Money Laundering Act (PMLA). This case highlights the risks of unregulated investment schemes and large-scale misuse of cryptocurrencies for fraud and money laundering.