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Time of India
10-08-2025
- Business
- Time of India
Cryptocurrency Live News & Updates : Indian Court Denies Bail in $228M Crypto Fraud Case
10 Aug 2025 | 11:35:11 PM IST The Himachal Pradesh High Court has denied bail for Abhishek Sharma, a suspect in a $228 million cryptocurrency fraud that affected over 80,000 investors. In a significant legal development, the Himachal Pradesh High Court has rejected bail for Abhishek Sharma, implicated in a massive $228 million cryptocurrency fraud that deceived over 80,000 investors. The court emphasized the severity of economic crimes and their societal impact, particularly as the main accused, Subhash Sharma, remains at large. Meanwhile, in the U.S., Bo Hines, the executive director of the Council of Advisors on Digital Assets, unexpectedly resigned after just seven months, raising questions about the future of cryptocurrency policy amid ongoing regulatory challenges. In market updates, cryptocurrencies like Pepe, Aptos, and Pi Network are under scrutiny as investors await the U.S. Consumer Price Index report, which could influence Federal Reserve interest rate decisions. Additionally, Chainlink has seen a notable price surge, driven by whale accumulation and a strategic buyback initiative. As the cryptocurrency landscape evolves, these developments highlight the intricate interplay between legal actions, regulatory shifts, and market dynamics, shaping the future of digital assets. Show more
Time of India
09-08-2025
- Business
- Time of India
HC declines bail to key accused in Rs 2000-cr cryptocurrency scam
Shimla: Considering the severity of the economic offence and its impact on society, the Himachal Pradesh high court has declined bail to Una resident Abhishek Sharma, one of the key accused in the Rs 2,000 crore cryptocurrency scam that duped over 80,000 investors in Himachal and neighbouring states. While dismissing the bail petition on Friday, the bench, headed by Justice Sushil Kukreja, observed: "The investigation, prima facie, revealed that the petitioner was a close associate of the main accused, Subhash Sharma, and was one of the top liners in the chain. The main accused, Subhash Sharma, absconded and moved out of India." The court held that although Article 21 of the Constitution of India guarantees a speedy trial and an undertrial prisoner cannot be detained in jail or custody for an indefinite period, the mere period of incarceration or the fact that the trial is not likely to be concluded in the near future cannot entitle the petitioner to be enlarged on bail, as he is prima facie found involved in an economic offence of huge magnitude. Justice Kukreja also pointed out that though petitioner Sharma, a resident of Riwar village in Bangana tehsil of Una district, is in custody since Oct 28, 2023, his counsel failed to point out any substantial change in the circumstances after the dismissal of the petitioner's earlier bail application, which would entitle the petitioner to release on bail. The economic offences are considered grave offences as they affect the economy of the country, and such offences are to be viewed seriously, held the court. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Official IQ Test: What is Your IQ? | Answer 30 Questions to Find Out IQ International Undo "In such types of offences, while granting bail, the court has to keep in mind, inter alia, the larger interest of the public and the state. The nature and seriousness of an economic offence and its impact on society are always important considerations in such cases," underlined the bench. The 2018 Scam The multi-crore fraud started in 2018 but came to light when one investor, Arun Singh Guleria, registered an FIR on Sept 24, 2023, at Palampur police station in Kangra district. The complainant alleged that a group of individuals, including Subhash Sharma, Hem Raj, and Sukhdev from Mandi, Abhishek Sharma from Una, and Milan Garg from Meerut in UP, engaged in fraudulent activities related to cryptocurrency in Himachal Pradesh. On the advice of accused Subhash, the complainant and others invested in the website ' owned by him, and were provided virtual currency in return for their investments. Subhash, along with promoters Sukhdev and Abhishek, allegedly cheated the public through platforms such as Voscrow and Hypenext, promising investors that their money would be doubled. The Probe Interestingly, over 1,000 state police personnel fell victim to this cryptocurrency scam. It was on Sept 26, 2023, that a special investigation team (SIT) headed by DIG of the northern range, Dharamshala, was constituted for investigating various cryptocurrency-related fraud cases across the state. Except Subhash, all other key accused have been arrested. The investigation unearthed that the modus operandi of the alleged fraud involved alluring individuals with the promise of high returns on cryptocurrency investments, creating a network of investors who recruited others, manipulating cryptocurrency prices, and ultimately causing financial loss to the victims. The probe found that petitioner Abhishek orchestrated investor gatherings in various locations like Mandi, Kullu, Baddi, Chandigarh, Una, Hamirpur, and Palampur. It came to the fore that the key accused created various shell companies, invested in plots and flats in Himachal, Chandigarh, Punjab, and Haryana and purchased luxury items and high-end cars. MSID:: 123205952 413 | Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Raksha Bandhan wishes , messages and quotes !
Time of India
22-04-2025
- Politics
- Time of India
Violence-hit Murshidabad returns to normal amid tight security
Murshidabad is gradually returning to normalcy under tight security after violent protests against the Waqf (Amendment) Act. Six individuals linked to the violence were apprehended in Odisha, while BJP leaders are calling for an NIA investigation into the matter. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Daily life in Murshidabad has gradually resumed amid tight security following violent protests that erupted in various areas against the Waqf (Amendment) Act.A local, Subhash Sharma, on Tuesday, said that they want peace and harmony in the city."It will be better if a permanent BSF camp is put here. Schools reopened here yesterday after a gap of one week. Schools were closed due to violence in several areas. Something like this has never happened before," Sharma Monday, Odisha Police arrested six people linked to the recent violence in West Bengal's Murshidabad district. The accused were nabbed from their hideout in Jharsuguda, an official said."Six persons have been arrested from their hideout in Jharsuguda. They were involved in the arson and rioting cases in Jafrabad and Betbona villages in Samserganj, Jangipur Police District in Murshidabad, and had escaped to Odisha after the incident," the official BJP leader Agnimitra Paul expressed serious concern over the violence, calling it a planned act of "ethnic cleansing" allegedly carried out with the support of West Bengal Chief Minister Mamata Banerjee and local demanded a probe by the National Investigation Agency (NIA) into the the violence, several families fled their homes. Many have migrated to the Pakur district in Jharkhand, while others are staying in relief camps set up in erupted on April 11 in Murshidabad, a Muslim-majority district, during a protest against the Waqf (Amendment) Act. The protest turned violent, resulting in two deaths, several injuries, and property damage. Thousands of people fled their homes in search of protest later spread to other districts, including Malda, South 24 Parganas, and Hooghly, where incidents of arson, stone-pelting, and road blockades were Droupadi Murmu had given her assent to the Waqf (Amendment) Bill, 2025, which was passed by Parliament during the budget session of Parliament. The President also gave her assent to the Mussalman Wakf (Repeal) Bill, 2025, which was passed by the Parliament.
