Finally, the ED officials recorded a statement from Tamanna Bhatia regarding the $HPZ mobile app token scam.
The HPZ token scam involved a fraudulent cryptocurrency project that lured investors with promises of high returns. The project raised significant funds during its initial offering but quickly disappeared, leaving investors without access to their money. On-chain investigators revealed that the team behind $HPZ orchestrated a “rug pull,” taking off with investors’ funds.
Since March 2024, the Enforcement Directorate (ED), a law enforcement and economic intelligence agency of the Government of India, has been investigating this case, with 299 entities accused so far, including foreign nationals.
Popular Indian actress Tamanna Bhatia had been ordered to appear before the ED but previously could not attend due to prior commitments. In the latest developments, she finally provided all the details linked to the HPZ token scam.
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Tamanna accepted a payment for appearing at an event linked to the HPZ app company. Therefore, it was necessary for ED officials to investigate her potential involvement in this money laundering and scam operation.
So far, no evidence has been found against Tamanna, and it should be noted that she was not considered a part of the HPZ token scam, as she was unaware of any kind of fraudulent activity.
India, unregulated crypto, & enforcement agencies
The crypto sector is fully unregulated in India, but all crypto traders and businesses are required to pay a 30% tax on profits generated from each crypto transaction.
Three months ago, the popular Indian crypto exchange WazirX faced a hack and lost a majority of customer funds, resulting in the suspension of its services.
Despite the unregulated status of crypto, the Delhi High Court, after a long delay, ordered the ED and FIU unit to investigate the WazirX hack and asked the affected customers to approach the court to reclaim their funds.
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ED records Tamanna Bhatia’s statement in $HPZ crypto token scam
https://bitcoinik.com/ed-records-tamanna-bhatias-statement-in-hpz-crypto-token-scam/feed/
https://bitcoinik.com/ed-records-tamanna-bhatias-statement-in-hpz-crypto-token-scam/feed/
