The Enforcement Directorate (ED), Chennai, has provisionally attached movable and immovable assets worth approximately ₹14.2 Cr in connection with an alleged cryptocurrency investment fraud operated by Pan India Cryptocurrency, HashPe.

The attachment was made on October 30, 2026, under the Prevention of Money Laundering Act (PMLA), 2002. The ED has also filed a prosecution complaint before the Special Court (PMLA), Puducherry.

According to the ED, Hashpay allegedly operated a fraudulent cryptocurrency-based ponzi investment scheme that lured investors with promises of daily returns of 1%, returns of up to 3X the invested amount, referral commissions and rewards such as luxury cars and foreign trips.

The agency said the attached assets include immovable properties in Tamil Nadu, Haryana and New Delhi, a BMW car and funds deposited in bank accounts.

The investigation was initiated based on an FIR registered by the Cyber Crime Police Station, Puducherry, under the Bharatiya Nyaya Sanhita (BNS), 2023, and the Information Technology Act, 2000.

ED’s investigation found that HashPe operated through a website, hashpe.io, and a multi-level marketing network. Its promoters allegedly used cash payments, bank transfers and cryptocurrency transactions to mobilise investments from the public.

The scheme reportedly used USDT (Tether), a stablecoin, and Bitcoin to facilitate transactions. However, the agency found that the purported trading activities were not backed by actual cryptocurrency trading.

Instead, money collected from new investors was allegedly used to repay earlier investors and pay commissions to agents. Withdrawals were eventually stopped and the platform was frozen, leaving investors with financial losses.

Source link