The Central Bureau of Investigation (CBI) has exposed a sprawling cryptocurrency scam involving the HPZ Crypto Currency Token, following an extensive crackdown under Operation Chakra-V.
On October 3, 2025, coordinated search operations were held at seven locations across Delhi NCR, Hyderabad, and Bengaluru, leading to the seizure of vital digital evidence, shell company records, and key financial documents.
The investigation revealed that between 2021 and 2023, fraudsters lured victims with fake loan, job, investment, and crypto schemes, funnelling public money through shell companies and mule bank accounts.
Ill-gotten gains were laundered via crypto conversion and layered international transfers, masking their financial trail and complicating enforcement efforts.
Authorities arrested five individuals for helping manage and execute the scam; these suspects have now been presented before the court as investigations continue.
CBI officials highlighted how shell entities were created in India under the guidance of foreign masterminds, channeling illicit funds through crypto wallets and exchanges.
The HPZ case marks another milestone for Operation Chakra-V and demonstrates the CBI’s determination to fight cyber-enabled financial crime using advanced forensics and international cooperation, as crypto frauds become an increasing threat in India’s digital economy.
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