Author: Simran Mishra

India Takes Strict Action in a $20M Coinbase Spoofing Scam Case: Eight Accused, Fake Websites, and Major Crypto Fraud Exposed by ED India’s Enforcement Directorate (ED) has filed charges in a massive crypto fraud case. The case involves a Coinbase spoofing scam linked to eight people and companies. The total fraud amount exceeds 20 million dollars. Officials say Chirag Tomar led this scam network, while other accused include Pankaj Tomar, Kushagra Shakya, Akash Vaish, Rahul Anand, and Ketan Luthra. Two companies also face charges in this crypto fraud case. How the Coinbase Spoofing Scam Worked The Coinbase spoofing scam ran…

India Weighs Bitcoin Mining Boost Despite 30% Tax, High Energy Use and Plan to Reverse Dollar Outflow India’s Bitcoin mining has started attracting attention as a way to reduce dollar outflows linked to gold imports. Crypto educator Kashif Raza, founder of Bitinning, suggests this idea as a simple economic solution. India imports around 700 to 720 tons of gold every year. Local production stays at only 1.5 tons, creating a large gap. The country pays for these imports in US dollars, which increases pressure on foreign reserves and weakens the rupee. Bitcoin as a Local Alternative to Gold Raza explained…

Korvio Coin Scam Deepens: ED Probe Traces Crypto Laundering Network, Fake Firms, Dubai Link Emerges The Enforcement Directorate has arrested Masoom Juneja in a major cryptocurrency fraud case linked to the Korvio Coin scam. The case involves a suspected Rs. 500 crore scam that affected more than 2.48 lakh investors across India.  Officials also carried out raids at places linked to Vijay Kumar Juneja and Masoom Juneja under money laundering laws. During the raids, investigators found important documents and digital devices that may help in the case. The case started after police in Himachal Pradesh and Punjab filed FIRs against…

India Tightens Crypto Tax Rules with more than 44,000 VDA Tax Notices and $104M Hidden Income Uncovered: Filing Errors Now Carry Real Risks India has stepped up its India crypto tax checks and sent more than 44,000 VDA tax notices. Authorities found around Rs. 888 crore, or nearly $104 million, in hidden crypto income during this process. The Income Tax Department used data from exchanges, TDS filings, and investor returns to spot gaps. Officials compared each record carefully and flagged cases where numbers did not match. How Authorities Identified Tax Mismatches This action shows a strong move toward strict crypto…

Retired Bank Manager Loses Rs. 2.52 Cr in Crypto Scam. Honey Trap Scam and Fake Crypto Platform Used in a Cyber Fraud Network Case A retired bank manager from Nawabganj lost Rs. 2.52 crore in a cryptocurrency investment scam. The case started with a honey-trap scam on social media. It later turned into a large cyber fraud network case. The victim, Anil Kumar Singh Chauhan, met a woman online in 2025. She called herself Ira Reddy. She talked to him daily and slowly gained his trust. After some time, she built an emotional bond with him. How the Investment Scam…

India Makes Crypto Tax Rules Stricter for 2026: Every Transaction Now Needs Full Reporting Under Schedule VDA with Stronger Checks and Penalties India is tightening its crypto tax system for the 2026 filing season under the India Crypto Tax Reporting rules. The government aims to improve the reporting and tracking of crypto income. The main tax structure stays the same, but reporting rules become more detailed and strict. Reports indicate that India will not change the 30% tax on crypto profits under its crypto taxation regime. A 4% cess also continues on gains. The government now focuses more on how…

US CLARITY Act Faces Senate Hurdles as SEC-CFTC Power Split, Banking Pushback, and Tokenization Growth Shape Debate The US CLARITY Act is moving fast as lawmakers try to pass it before the August recess. Congress now has only 16 working days left, which creates strong pressure to act quickly. Officials say the bill is important for giving clear and stable crypto regulation in the United States. They want to turn current guidelines into law, so future policy changes do not disrupt the market. US CLARITY Act Pushes for Regulatory Clarity The US CLARITY Act mainly focuses on defining roles between…

Zelle India Expansion Coming in 2026 with Easy Peer-to-Peer Payments and ZelleUSD for Faster Remittances and Cross-Border Payments. Zelle India’s expansion will bring the US money transfer app to India in 2026. This will be the first time Zelle moves outside the United States. The company that runs Zelle has confirmed India as the first country for this new step. The company selected India since many people send money from the United States to India. A large amount of remittances India receives comes from families living in the US. This makes India a strong place for cross-border payments. Why India…

Crypto Fear and Greed Index Hits 13: Extreme Fear Grips the Crypto Market as Investors Stay Cautious and Prices Remain Under Pressure The Crypto Fear and Greed Index currently stands at 13, reflecting deep anxiety in the crypto market. The latest reading shows a slight recovery from the previous day, although sentiment remains firmly in the extreme fear crypto zone. Data from Coinglass highlights that the index averaged 10 over the past week and 23 over the last month. These numbers confirm that negative sentiment has persisted across a longer period rather than a short-term shock. Such low numbers show…

SIT Probe Reveals Hawala Links in Rs. 35 Cr Bitcoin Scam as Nalapad Named in 2017 Crypto Theft Case A new development in the Bitcoin scam case in Karnataka has grabbed everyone’s attention, especially in the state’s political fraternity. The SIT charge sheet has mentioned Mohammed Nalapad, the son of Congress MLA N A Haris and a known political figure, in the crypto fraud case. This is the first time a politically linked person has been formally named in the Bitcoin scam charge sheet.  SIT Names Mohammed Nalapad in Charge Sheet The Special Investigation Team filed the charge sheet in…