The Indian Enforcement Bureau conducted a raid in Nagpur targeting a suspected cryptocurrency scam group called "Ether Trade Asia." The agency stated that the group was led by Nished Mahadeo Rao Wasnik, who used misleading seminars to promote a fraudulent binary commission scheme, promising high returns on Ethereum investments, resulting in investors losing over 425 million rupees (approximately $4.72 million). Authorities have seized documents, frozen bank accounts and cryptocurrency wallets, and identified properties allegedly purchased with the proceeds of the scam.