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ARTICLE · 10 SEPTEMBER 2026

Crypto Frauds In India: Legal Challenges And Way Forward!

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In a rare use of its extraordinary powers under Article 142 of the Constitution of India, the Supreme Court heard a curative petition filed by DMRC, challenging an earlier order that had upheld the arbitral award. The judgment brings finality to a decade-long contractual dispute that began in 2013 with arbitration proceedings.

IndiaTechnology
Kush Agarwal
Kush Agarwal
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1. Introduction: Crypto Boom and Dark Underbelly in India:

Cryptocurrencies have witnessed surging interest in India, driven by retail enthusiasm and speculative returns. Yet, lax regulation and public unawareness have fostered fertile ground for sophisticated fraud. From Ponzi schemes and fake trading apps to laundering through mule accounts and major exchange hacks, the spectrum of crypto-related fraud in India is alarmingly diverse. Recent cases highlight the severity and range:

  • A real estate businessman in Telangana was scammed for ₹4.87 crore via WhatsApp and a fake trading site promising sustained high returns. Authorities registered the case under multiple sections of the IT Act and Bharatiya Nyaya Sanhita and are coordinating with banks to trace the funds1.

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