Indian police have arrested around eighteen people, including four police officers, in connection with a $300 million cryptocurrency scam that affected around 100,000 people in Himachal Pradesh. Victims were invited to invest in a cryptocurrency called Korvio Coin (KRO), but later the scam incorporated other tokens as well. Around 5,000 government officials and around 1,000 police fell victim to the scam, with some themselves becoming promoters.The scam was allegedly orchestrated by Subhash Sharma, who has not been apprehended. This particular fraud was uncovered in September, but has been ongoing since as long ago as 2018.

Total loss estimated at $300,000,000.