Odisha EOW busts pan-India crypto Ponzi scam

Bhubaneswar: The Economic Offence Wing (EOW) of Odisha Police has unearthed a pan-India crypto currency-based Ponzi scam involving more than Rs 1,000 crore, a police official said on Monday. The EOW has arrested the head of STA Crypto Token Gurtej Singh Sidhu (40) from Sri Ganganagar, Rajasthan and its Odisha unit head Nirod Das. Sidhu is a native of Faridkot, Punjab and Nirod belongs to Bhadrak district of Odisha.

Sidhu was frequently changing his location in places like Goa, Lonavala, Mumbai, Delhi, Faridkot, Bhatinda, Hanumangadh and Sri Ganganagar. A team of EOW, led by DSP Sasmita Sahoo, was tracking his movement and finally able to arrest him, said an EOW official.

Acting on an intelligence input that a crypto currency-based Ponzi scam is being run in Odisha, especially in Bhadrak, Balasore, Bhubaneswar, Mayurbhanj, Jajpur, Kendrapara and Keonjhar districts, the EOW conducted an inquiry.