Indian law enforcement has indicted Chirag Tomar and his associates for orchestrating a Coinbase spoofing scam that defrauded victims of over $20 million in crypto assets. Tomar, who has already been sentenced to 60 months in a U.S. federal prison for conspiracy to commit wire fraud, led the group in creating a fake Coinbase Pro website. This site used SEO tactics to deceive users into providing login credentials, which were then exploited to steal cryptocurrencies.
Authorities have frozen 129 bank accounts linked to the group, seizing assets valued at approximately 6.455 billion rupees. The scam involved laundering money through family members, shell companies, and P2P networks, with funds directed to entities like Tomar Industrial Group and Exahomes Realtors. Co-defendants include Pankaj Tomar, Kushagra Shakya, Akash Vaish, Rahul Anand, and Ketan Luthra.
Indian Authorities Indict Mastermind of $20 Million Coinbase Spoofing Scam
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