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India OTC Crypto KOL Scam (Ravindra K / Mohammed Waseem / Saurabh Diwan / Vaibhav Gupta)

avoid.net/india-otc-crypto-kol-scam-ravindra-k-mohammed-waseem-saurabh-diwan-vaibhav-gupta→4/100·78% conf.
[AI-DRAFTED · AWAITING VERIFICATION]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·Z3A7BE…b1ro

Summary

India's Enforcement Directorate (ED) registered a Prevention of Money Laundering Act (PMLA) case and conducted raids on July 18–19, 2026 in Bengaluru against a network of self-styled cryptocurrency Key Opinion Leaders (KOLs) accused of defrauding foreign investors through fraudulent over-the-counter (OTC) token allocation deals. The ED's Bengaluru Zonal Office estimates the total scam value at approximately USD 35 million (approximately ₹336–337 crore), substantially exceeding the USD 10 million reported in the originating FIR filed by a Dutch entity. Four individuals have been named: Mohammed Waseem, Saurabh Diwan, and Vaibhav Gupta as the primary KOL-facing operatives, and Bengaluru-based Ravindra K, identified by investigators as the alleged mastermind behind the OTC operation.

Connected Entities

1 entities · 10 linked investigations
Organizations
□India OTC Crypto KOL Scam (Ravindra K / Mohammed Waseem / Saurabh Diwan / Vaibhav Gupta)
Relationships
    Also appears in
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    Have evidence about India OTC Crypto KOL Scam (Ravindra K / Mohammed Waseem / Saurabh Diwan / Vaibhav Gupta)?

    Timeline(6 events)

    June 2025

    Similar OTC token allocation fraud schemes involving self-styled crypto influencers reportedly surface in India, predating the formal ED investigation.

    Crypto Times

    July 2026

    A Dutch commercial entity files a First Information Report at the Cyber Crime Police Station, South Andaman, alleging large-scale fraud in OTC cryptocurrency trades valued at approximately USD 10 million.

    FintechBizNews

    18 July 2026

    ED's Bengaluru Zonal Office commences search operations under PMLA at multiple Bengaluru premises associated with the accused.

    ETV Bharat

    19 July 2026

    Search operations continue on the second day. Authorities seize digital storage devices, email repositories, wallet credentials, and USDT (amount reported as either 8,700 or 87,000 USDT across sources).

    The420.in

    21 July 2026

    ED publicly discloses the investigation, naming Mohammed Waseem, Saurabh Diwan, Vaibhav Gupta, and Ravindra K as accused. ED states total estimated scam value is approximately USD 35 million (₹336–337 crore), significantly higher than the FIR figure.

    Crypto Times

    22 July 2026

    FintechBizNews and other outlets report on the ED's official disclosure. ED indicates multiple additional foreign investors were allegedly defrauded but have not yet filed complaints.

    FintechBizNews
    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain12 Wayback Archives

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 12 of 13 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 7/28/2026, 5:40:42 PM

    last updated: 7/29/2026, 1:22:06 PM

    3 views

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