ED Freezes ₹500 Crore: Paytm, Razorpay Among 8 Payment Gateways Probed in Massive Crypto Scam

The Enforcement Directorate has frozen approximately ₹500 crore from eight major payment gateways, including Paytm, Razorpay, and PayU, in connection with the HPZ Token cryptocurrency scam. The investigation reveals Chinese nationals allegedly collected over ₹2,200 crore from investors across 20 Indian states through fraudulent crypto mining schemes. PayU had the largest frozen amount at ₹130 crore, followed by Easebuzz (₹33.4 crore), Razorpay (₹18 crore), and Paytm (₹2.8 crore). The ED has filed a chargesheet naming 298 individuals in what could be one of India's largest cryptocurrency scams.
Source: The Times of India