Krogan (KRO)

₹500 crore Korvio Coin crypto scammer Masoom Juneja arrested

- Investigators traced $219+ million in transactions
- Korvio Coin was launched as a crypto MLM in 2018
- Investors were promised high returns
- New investor money paid returns to older investors
- Mastermind Subhash Sharma fled to Dubai in 2023
- Scam proceeds were used to buy properties
- Multiple bank accounts were used for layering
- Investigation is being carried out under PMLA
- Subhash Sharma remains absconding in Dubai
- Over 248,000 investors are still awaiting recovery

ED Arrests Masoom Juneja In The ₹500 Cr (~$58M) Korvio Coin (KRO) Crypto Ponzi Case

Fake MLM Scheme. 2.48 Lakh+ Investors Duped. Mastermind Subhash Sharma Fled To Dubai.

Run Via https://t.co/3ltqECjhRT & https://t.co/zKDRYJKTN6, "Assured Returns," Fake Seminars, Manipulated Tokens. Wider Network ₹2,300 Cr ($253M); Even 1,000+ Cops Were Victims.

Lesson: No Real Crypto Pays You To Recruit Friends. "Guaranteed Returns" = Exit Scam Loading.

2.48 lakh Indians lost ₹500 crore in a crypto scam.

The biggest warning sign was there from the start:

"Guaranteed returns."

There are no guaranteed returns in crypto.

Korvio Coin used a simple Ponzi scheme.

Money from new investors was used to pay old investors.

This worked until new money stopped coming in.

Now the scheme has collapsed.

ED has taken action, but most of the money is already gone.

Remember:

If someone guarantees returns in crypto, stay away.