ODISHA EOW UNEARTHS INDIA'S BIGGEST CRYPTO-PONZI SCAM

Bhubaneswar (07/08/2023): The Odisha Economic Offences Wing (EOW) has unearthed the biggest crypto-ponzi scam of India, with the arrest of two persons including India head of one cryptocurrency-based ponzi firm. Gurtej Singh Sidhu (40), the India head of "STA Crypto token", was arrested from Sri Ganganagar in Rajasthan.

He is a native of Faridkot in Punjab. He was produced before a local court in Sri Ganganagar after arrest.

The court granted a seven-day transit remand to Odisha EOW to bring the accused to the state.

Another accused identified as Nirod Das of Bhadrak district was the Odisha head of STA Crypto token.

According to the EOW, the total money involved (Pan India) in STA is estimated to be more than Rs 1000 crore.

Film stars like Govinda had also endorsed the scheme. The scheme was active in Bhubaneswar, Bhadrak, Balasore, Mayurbhanj, Jajpur, Keonjhar and Kendrapara districts of Odisha.