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Every state-changing event for Money Trade Coin: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-10-11 04:07:57Z
   Score: ? → ? (no score change)
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   {"actor":"system:backfill","investigation_id":"675b98f0-bcdb-446a-b23c-486cc1c2a56c","kind":"publish","page_slug":"money-trade-coin","published_at":"2026-10-11T04:07:57.016Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Money Trade Coin","sections":[{"content":"Money Trade Coin (MTC) was marketed in India as a cryptocurrency that would soon receive official government recognition. According to the Enforcement Directorate (ED), an unrecognised cryptocurrency called Money Trade Coin was floated and investors were induced to invest, resulting in alleged cheating of approximately Rs 113.10 crore during August 2017 to April 2018. Promoters reportedly held a launch event for MTC in Dubai in September 2017. The ED alleges that Amit Madanlal Lakhanpal held investor seminars in Delhi, Pune and Nashik at which he falsely represented himself as a Finance Ministry official and claimed MTC would receive government recognition, in order to induce investment. The coin was never listed on a recognised exchange and was collected without government or Reserve Bank of India approval, according to law-enforcement accounts.","heading":"The Money Trade Coin scheme and alleged impersonation of a Finance Ministry official","severity":"critical","sources":[{"credibility":2,"name":"ED Searches Mumbai, Thane In ₹113-Crore MTC Cryptocurrency Fraud Case — Free Press Journal","type":"news_article","url":"https://www.freepressjournal.in/mumbai/ed-searches-mumbai-thane-in-113-crore-mtc-cryptocurrency-fraud-case"},{"credibility":1,"name":"Enforcement Directorate press release on Amit Lakhanpal / Money Trade Coin (PDF)","type":"regulatory","url":"https://www.enforcementdirectorate.gov.in/media/press-release-documents/9f3ad5be-80a2-45b9-b78f-c2dc89c58545_Press Release Amit Lakhanpal 2082026_3.pdf"},{"credibility":2,"name":"₹113 Crore MTC Crypto Scam: Amit Lakhanpal Arrested in UAE, India Begins Extradition — Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/09/10/inr-113-crore-mtc-crypto-scam-amit-lakhanpal-arrested-in-uae-india-begins-extradition/"}]},{"content":"Investigators allege that Lakhanpal and associates launched additional platforms and schemes affiliated with MTC, named by the ED as Coin Deposit Ratio, MTC Banque, MTCX India and Cryptozaniya, which were allegedly used to manipulate MTC's quoted value and retain investor funds. According to the ED, the accused subsequently stopped trading and withdrawal facilities across these platforms, leaving investors unable to recover either their principal or promised returns. These are allegations contained in the ED's press release and have not been tested in court.","heading":"Alleged rate manipulation and halted withdrawals across affiliated platforms","severity":"critical","sources":[{"credibility":2,"name":"ED Searches Mumbai, Thane In ₹113-Crore MTC Cryptocurrency Fraud Case — Free Press Journal","type":"news_article","url":"https://www.freepressjournal.in/mumbai/ed-searches-mumbai-thane-in-113-crore-mtc-cryptocurrency-fraud-case"},{"credibility":1,"name":"Thane man who acquired Antigua citizenship after cheating investors on ED radar — ThePrint (PTI)","type":"news_article","url":"https://theprint.in/india/thane-man-who-acquired-antigua-citizenship-after-cheating-investors-on-ed-radar/3020673/"}]},{"content":"An undercover television investigation, 'Operation Bitcoin', was first broadcast on February 5, 2018, after reporters posing as high-net-worth investors visited the Thane office of the Flintstone Group, the company reportedly behind Money Trade Coin. Following a complaint from a Delhi businessman and the broadcast, Thane Police raided Flintstone Group's offices on June 4, 2018, registering a case at Chitalsar police station and arresting Taha Hafiz Qazi, described by police as a technical operator of the scheme. Thane Police at the time estimated the broader racket at approximately Rs 500 crore, with some contemporaneous reporting citing roughly 2,500 to 25,000 affected investors and figures as high as Rs 300-500 crore — considerably larger than the Rs 113.10 crore the ED later attributed specifically to the August 2017-April 2018 window. In January 2019, Delhi Police arrested Rohit Kumar, described as a second-in-command collection agent, and charged him with cheating, criminal conspiracy and violations of India's Prize Chits and Money Circulation Schemes (Banning) Act; three other individuals had reportedly been arrested roughly a year earlier. Lakhanpal, then reported to be around 32 years old and described as a real-estate executive, was not apprehended and was at that time believed by investigators to have fled toward London — an account later superseded by reports placing him in Dubai.","heading":"2018 Thane Police investigation and initial fallout","severity":"high","sources":[{"credibility":2,"name":"Indian Police Arrest Second in $72 Million Crypto Fraud Scheme, Leader Still Sought — Crowdfund Insider","type":"news_article","url":"https://www.crowdfundinsider.com/2019/01/143084-indian-police-arrest-second-in-72-million-crypto-fraud-scheme-leader-still-sought/"},{"credibility":2,"name":"₹113 Crore MTC Crypto Scam: Amit Lakhanpal Arrested in UAE, India Begins Extradition — Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/09/10/inr-113-crore-mtc-crypto-scam-amit-lakhanpal-arrested-in-uae-india-begins-extradition/"},{"credibility":2,"name":"Police bust an alleged ₹5 billion cryptocurrency scam in India — Business Insider India","type":"news_article","url":"https://www.businessinsider.in/police-bust-an-alleged-5-billion-cryptocurrency-scam-in-india/articleshow/64480959.cms"}]},{"content":"The case remained largely dormant for roughly eight years until the Enforcement Directorate (ED), acting on the 2018 Thane Police FIR against Lakhanpal, Taha Hafiz Qazi, Sachin Vasant Shelar, Komal Bhimrao Shirsath and other accused, opened a money-laundering investigation under the Prevention of Money Laundering Act (PMLA). The ED's Mumbai Zonal Office searched premises in Mumbai and Thane on August 12, 2026, reportedly seizing approximately Rs 1 crore (about $105,000) in cash along with incriminating documents and digital devices. The ED's Mumbai office issued a press release on August 20, 2026 naming Lakhanpal as the alleged mastermind and absconding accused, and set out the Rs 113.10 crore figure for the August 2017-April 2018 period as the scope of its predicate-offence investigation; the agency's release did not adopt the larger Rs 300-500 crore figure cited by Thane Police in 2018. Associates Taha Hafiz Qazi, Sachin Vasant Shelar and a third individual, Vikram Baghera, were summoned by the ED for questioning. According to reporting on the searches, the three sought anticipatory bail and interim protection from a special PMLA court, which was reportedly rejected, with the presiding judge said to have cited the large amount of public money involved; this specific court detail comes from a single news report and should be treated as less firmly established pending additional corroboration.","heading":"Enforcement Directorate PMLA investigation and August 2026 searches","severity":"critical","sources":[{"credibility":1,"name":"Enforcement Directorate press release on Amit Lakhanpal / Money Trade Coin (PDF)","type":"regulatory","url":"https://www.enforcementdirectorate.gov.in/media/press-release-documents/9f3ad5be-80a2-45b9-b78f-c2dc89c58545_Press Release Amit Lakhanpal 2082026_3.pdf"},{"credibility":2,"name":"ED Searches Mumbai, Thane In ₹113-Crore MTC Cryptocurrency Fraud Case — Free Press Journal","type":"news_article","url":"https://www.freepressjournal.in/mumbai/ed-searches-mumbai-thane-in-113-crore-mtc-cryptocurrency-fraud-case"},{"credibility":2,"name":"ED Money Trade Coin crypto fraud Mumbai seizure — The420.in","type":"news_article","url":"https://the420.in/ed-money-trade-coin-crypto-fraud-mumbai-seizure/"}]},{"content":"Indian investigators allege that Lakhanpal and some associates obtained citizenship and passports from Antigua and Barbuda — a country that operates a citizenship-by-investment programme — after the 2018 FIR was registered, and subsequently lived in Dubai, UAE, under assumed identities. Investigators have also told Indian media that Lakhanpal's wife remained in India after he left, was stopped at the airport on a lookout circular on three occasions in 2023 and 2024, and reportedly left India in 2025 on an Antigua and Barbuda passport; the ED has not confirmed this family-related detail in any public statement, so it should be treated as alleged and lower-confidence.","heading":"Alleged flight, Antigua and Barbuda passports, and concealment in the UAE","severity":"high","sources":[{"credibility":1,"name":"Thane man who acquired Antigua citizenship after cheating investors on ED radar — ThePrint (PTI)","type":"news_article","url":"https://theprint.in/india/thane-man-who-acquired-antigua-citizenship-after-cheating-investors-on-ed-radar/3020673/"},{"credibility":2,"name":"₹113 Crore MTC Crypto Scam: Amit Lakhanpal Arrested in UAE, India Begins Extradition — Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/09/10/inr-113-crore-mtc-crypto-scam-amit-lakhanpal-arrested-in-uae-india-begins-extradition/"}]},{"content":"Indian media reported that Lakhanpal was detained in the UAE on September 1, 2026, under an Interpol Red Notice sought by Thane City Police, with the ED having reportedly shared his location with foreign authorities ahead of the detention. UAE authorities are reported to have informed Indian counterparts of the detention on the day it occurred, but the arrest was not reported by Indian newspapers until the night of September 9, 2026, eight days later. As of the morning of September 10, 2026, the ED had not issued a public statement specifically addressing the UAE arrest, and the agency's August 20, 2026 press release on the searches remained its most recent official statement on the case. The Government of India is reported to have begun extradition proceedings, with a formal request expected to proceed through diplomatic channels under the 1999 India-UAE extradition treaty; UAE courts would ultimately decide on surrender, and Lakhanpal would be entitled to contest any extradition request. No conviction has occurred, and these arrest and extradition details rely on a limited number of Indian news reports rather than an ED or UAE official statement, so they carry moderate rather than high confidence.","heading":"Reported arrest in the UAE and extradition proceedings (September 2026)","severity":"medium","sources":[{"credibility":2,"name":"₹113 Crore MTC Crypto Scam: Amit Lakhanpal Arrested in UAE, India Begins Extradition — Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/09/10/inr-113-crore-mtc-crypto-scam-amit-lakhanpal-arrested-in-uae-india-begins-extradition/"},{"credibility":2,"name":"Amit M Lakhanpal arrested in UAE over ₹113.10cr crypto scam — NewsBytes","type":"news_article","url":"https://www.newsbytesapp.com/news/business/amit-m-lakhanpal-arrested-in-uae-over-rs11310cr-crypto-scam/tldr"}]},{"content":"Besides Lakhanpal, the Thane Police FIR and the ED's PMLA case name Taha Hafiz Qazi, Sachin Vasant Shelar and Komal Bhimrao Shirsath as accused. Reporting on the 2026 searches has also referred to an unnamed former Maharashtra police officer alleged to have assisted the scheme from within law enforcement; this allegation appears in only a small number of reports and has not been corroborated with named detail from a primary source, so it is flagged here as unverified and low confidence.","heading":"Co-accused and alleged law-enforcement complicity","severity":"medium","sources":[{"credibility":2,"name":"ED Money Trade Coin crypto fraud Mumbai seizure — The420.in","type":"news_article","url":"https://the420.in/ed-money-trade-coin-crypto-fraud-mumbai-seizure/"},{"credibility":2,"name":"ED Searches Mumbai, Thane In ₹113-Crore MTC Cryptocurrency Fraud Case — Free Press Journal","type":"news_article","url":"https://www.freepressjournal.in/mumbai/ed-searches-mumbai-thane-in-113-crore-mtc-cryptocurrency-fraud-case"}]}],"sources_used":[{"credibility":2,"name":"ED Searches Mumbai, Thane In ₹113-Crore MTC Cryptocurrency Fraud Case — Free Press Journal","type":"news_article","url":"https://www.freepressjournal.in/mumbai/ed-searches-mumbai-thane-in-113-crore-mtc-cryptocurrency-fraud-case"},{"credibility":1,"name":"Enforcement Directorate press release on Amit Lakhanpal / Money Trade Coin (PDF)","type":"regulatory","url":"https://www.enforcementdirectorate.gov.in/media/press-release-documents/9f3ad5be-80a2-45b9-b78f-c2dc89c58545_Press Release Amit Lakhanpal 2082026_3.pdf"},{"credibility":2,"name":"ED Money Trade Coin crypto fraud Mumbai seizure — The420.in","type":"news_article","url":"https://the420.in/ed-money-trade-coin-crypto-fraud-mumbai-seizure/"},{"credibility":1,"name":"Thane man who acquired Antigua citizenship after cheating investors on ED radar — ThePrint (PTI)","type":"news_article","url":"https://theprint.in/india/thane-man-who-acquired-antigua-citizenship-after-cheating-investors-on-ed-radar/3020673/"},{"credibility":2,"name":"₹113 Crore MTC Crypto Scam: Amit Lakhanpal Arrested in UAE, India Begins Extradition — Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/09/10/inr-113-crore-mtc-crypto-scam-amit-lakhanpal-arrested-in-uae-india-begins-extradition/"},{"credibility":2,"name":"Amit Lakhanpal Money Trade Coin crypto fraud — The420.in","type":"news_article","url":"https://the420.in/amit-lakhanpal-money-trade-coin-crypto-fraud/"},{"credibility":2,"name":"Amit M Lakhanpal arrested in UAE over ₹113.10cr crypto scam — NewsBytes","type":"news_article","url":"https://www.newsbytesapp.com/news/business/amit-m-lakhanpal-arrested-in-uae-over-rs11310cr-crypto-scam/tldr"},{"credibility":2,"name":"Indian Police Arrest Second in $72 Million Crypto Fraud Scheme, Leader Still Sought — Crowdfund Insider","type":"news_article","url":"https://www.crowdfundinsider.com/2019/01/143084-indian-police-arrest-second-in-72-million-crypto-fraud-scheme-leader-still-sought/"},{"credibility":2,"name":"Police bust an alleged ₹5 billion cryptocurrency scam in India — Business Insider India","type":"news_article","url":"https://www.businessinsider.in/police-bust-an-alleged-5-billion-cryptocurrency-scam-in-india/articleshow/64480959.cms"}],"summary":"Money Trade Coin (MTC) was an unregistered cryptocurrency scheme floated in India beginning around 2017 by Amit Madanlal Lakhanpal, who allegedly posed as a Finance Ministry official and promised investors that MTC would receive government recognition and deliver outsized returns. Indian authorities allege the scheme and related platforms (Coin Deposit Ratio, MTC Banque, MTCX India, Cryptozaniya) defrauded investors of roughly Rs 113.10 crore (about $13.6 million) between August 2017 and April 2018, with Thane Police separately estimating a broader racket of Rs 300-500 crore affecting thousands of investors. The case, dormant for years after a 2018 police raid, resurfaced in August 2026 with Enforcement Directorate money-laundering searches and a reported September 2026 arrest of Lakhanpal in the United Arab Emirates; no conviction has occurred and extradition proceedings are ongoing.","timeline":[{"date":"2017-08","event":"Alleged Money Trade Coin fraud period begins; the ED later attributes Rs 113.10 crore in investor losses to the August 2017-April 2018 window.","source":"Free Press Journal / Enforcement Directorate","source_url":"https://www.freepressjournal.in/mumbai/ed-searches-mumbai-thane-in-113-crore-mtc-cryptocurrency-fraud-case"},{"date":"2017-09","event":"Promoters hold a launch event for Money Trade Coin in Dubai.","source":"Crypto Times","source_url":"https://www.cryptotimes.io/2026/09/10/inr-113-crore-mtc-crypto-scam-amit-lakhanpal-arrested-in-uae-india-begins-extradition/"},{"date":"2018-02-05","date_evidence":"Operation Bitcoin was first broadcast on February 5, 2018.","event":"Undercover television investigation 'Operation Bitcoin' airs, exposing MTC sales practices at the Flintstone Group's Thane office.","source":"Crypto Times","source_url":"https://www.cryptotimes.io/2026/09/10/inr-113-crore-mtc-crypto-scam-amit-lakhanpal-arrested-in-uae-india-begins-extradition/"},{"date":"2018-06-04","date_evidence":"businessman Pravin Agarwal and the broadcast together led Thane Police to raid Flintstone offices on June 4, 2018. Officers registered a case at Chitalsar police station, arrested Taha Hafiz Qazi","event":"Thane Police raid Flintstone Group offices, register an FIR, and arrest Taha Hafiz Qazi; police estimate the broader racket at roughly Rs 500 crore.","source":"Crypto Times","source_url":"https://www.cryptotimes.io/2026/09/10/inr-113-crore-mtc-crypto-scam-amit-lakhanpal-arrested-in-uae-india-begins-extradition/"},{"date":"2018-04","event":"Alleged Money Trade Coin fraud period ends, per the ED's later Rs 113.10 crore figure.","source":"Free Press Journal / Enforcement Directorate","source_url":"https://www.freepressjournal.in/mumbai/ed-searches-mumbai-thane-in-113-crore-mtc-cryptocurrency-fraud-case"},{"date":"2019-01","event":"Delhi Police arrest Rohit Kumar, described as a second-in-command collection agent, on cheating and money-circulation charges; Lakhanpal remains at large and is believed to have fled toward London.","source":"Crowdfund Insider","source_url":"https://www.crowdfundinsider.com/2019/01/143084-indian-police-arrest-second-in-72-million-crypto-fraud-scheme-leader-still-sought/"},{"date":"2026-08-12","date_evidence":"searched premises in Mumbai and Thane on August 12, 2026 under PMLA","event":"Enforcement Directorate's Mumbai Zonal Office conducts PMLA searches in Mumbai and Thane, seizing about Rs 1 crore in cash plus documents and digital devices.","source":"Crypto Times / Free Press Journal","source_url":"https://www.freepressjournal.in/mumbai/ed-searches-mumbai-thane-in-113-crore-mtc-cryptocurrency-fraud-case"},{"date":"2026-08-20","date_evidence":"press release issued by the ED's Mumbai Zonal Office on August 20, 2026, an unrecognised cryptocurrency called Money Trade Coin was floated","event":"ED issues a press release naming Amit Madanlal Lakhanpal as alleged mastermind and absconding accused, detailing the Rs 113.10 crore scheme and affiliated platforms.","source":"Enforcement Directorate press release","source_url":"https://www.enforcementdirectorate.gov.in/media/press-release-documents/9f3ad5be-80a2-45b9-b78f-c2dc89c58545_Press Release Amit Lakhanpal 2082026_3.pdf"},{"date":"2026-09-01","date_evidence":"UAE authorities informed Indian counterparts of the detention on September 1","event":"Lakhanpal is reportedly detained in the UAE under an Interpol Red Notice sought by Thane City Police.","source":"Crypto Times","source_url":"https://www.cryptotimes.io/2026/09/10/inr-113-crore-mtc-crypto-scam-amit-lakhanpal-arrested-in-uae-india-begins-extradition/"},{"date":"2026-09-09","date_evidence":"reported by Indian newspapers on the night of September 9, 2026, eight days after the arrest","event":"Indian media first report Lakhanpal's UAE arrest, eight days after it reportedly occurred.","source":"Crypto Times","source_url":"https://www.cryptotimes.io/2026/09/10/inr-113-crore-mtc-crypto-scam-amit-lakhanpal-arrested-in-uae-india-begins-extradition/"}]},"v":1}

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