The 26 Red-Flagged Websites
If you or anyone you know is using these platforms, the ED advises immediate cessation of activity:
goldbooker.com, fincorp.com, wozur.com, theapexpower.com, mygoldrev.com, cryptobrite.com, cryptexify.com, goldxcapital.com, hawkchain.com, cubigains.com, paymara.com, bitcodeals.com, growmore.com, bitminerclub.com, bitrobix.com, primetrades.com, zylotrade.com, etc.
In a significant crackdown on digital financial crime, the Enforcement Directorate (ED) recently unearthed a massive pan-India syndicate involving 26 fake cryptocurrency websites designed to siphon funds from unsuspecting investors. This operation highlights the growing complexity of “pig butchering” and MLM-style crypto scams that have become a multi-billion dollar menace in India.
The Insight: How the 26-Website Syndicate Operated
The ED’s investigation revealed a sophisticated modus operandi that blended modern technology with classic psychological manipulation. The syndicate, which has reportedly been active since 2015, used these platforms to mimic genuine investment sites, often featuring stolen photos of well-known crypto experts and celebrities to build a veneer of legitimacy.
The “Trust-Building” Trap:
Early Payouts: Like a classic Ponzi scheme, the platforms paid small “returns” to early investors. This encouraged victims to reinvest larger sums and bring in friends and family.
Social Engineering: Scammers utilized WhatsApp, Telegram, and Instagram to run coordinated trading groups where “experts” provided signals that appeared to yield 100% success rates on the fake dashboards.
The Exit: When victims attempted to withdraw large amounts, the sites demanded “statutory taxes” or “clearance fees,” effectively double-scamming the victim before freezing their account entirely.
Scale of the Scam: How Much is at Stake?
While the exact total for this specific syndicate is being tallied, broader data for 2024–2025 paints a staggering picture of the crypto-fraud landscape in India:
Global & Domestic Losses: According to recent Chainalysis data, cryptocurrency-related thefts and scams reached nearly $3.4 billion globally in 2025 alone.
Indian Context: Individual cases in India frequently involve massive sums. For instance, recent ED probes in Karnataka and Delhi have identified frauds exceeding $20 million (~₹160 crore) in single networks.
Attachment of Assets: The ED reported that during the 2024-25 fiscal year, it provisionally attached assets worth over ₹30,000 crore linked to various financial crimes, a significant portion of which includes digital and crypto-enabled frauds.
Where Do These Sites Operate From?
The investigation shows that while the victims are often in India, the infrastructure is a global web designed to evade local law enforcement:
The Golden Triangle: A large number of these “scam factories” are located in Southeast Asian regions, particularly the Golden Triangle (bordering Laos, Thailand, and Myanmar) and Cambodia. Indian citizens are often lured there with fake job offers only to be forced into working for these cyber-fraud call centers.
Shadow Jurisdictions: The websites are frequently hosted on servers in jurisdictions with lax cyber-regulations.
Laundering Channels: The “Proceeds of Crime” (PoC) are moved through:
Shell Companies: Hundreds of shell entities are created in India using virtual addresses to collect and layer the money.
Hawala & P2P: Funds are eventually converted to USDT (a stablecoin) and moved out of the country via Peer-to-Peer (P2P) transfers on offshore exchanges, making recovery nearly impossible once the trail goes cold.
