Abhishek Sharma, a key promoter in a major Indian cryptocurrency and multi-level marketing (MLM) scam, has had his bail application denied. The case reportedly involves over 80,000 investors with estimated losses of approximately $52.4 million, and a total investment pool of around $210 million. The scam operated through fraudulent crypto platforms such as Korvio, Voscrow, DGT, Hypenext, and A-Global, promising to double returns. Initial small payouts ceased in December 2021. The Enforcement Directorate (ED) of India previously froze assets worth about $126,000, alleging that the funds were laundered through real estate, shell companies, and family bank accounts.