India’s ED charges Chirag Tomar over a $20M Coinbase phishing scam, attaching assets worth ₹64.55 crore in New Delhi court.
India’s Enforcement Directorate has filed a prosecution complaint against Chirag Tomar and several associates before the Special Court at Dwarka District Courts in New Delhi.
The complaint falls under the Prevention of Money Laundering Act, 2002.
Tomar is an Indian national currently serving a 60-month prison sentence in the United States. The case centers on a large-scale Coinbase phishing operation that stole over $20 million in cryptocurrency from hundreds of victims across multiple countries.
ED has provisionally attached assets worth ₹64.55 crore in connection with the case.
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How the Coinbase Phishing Operation Ran
According to a press release, Tomar and his co-conspirators built fake websites that closely mimicked the genuine Coinbase exchange platform. Victims who accessed those sites unknowingly surrendered their login credentials, two-factor authentication codes, and other account access details.
Attackers then used those details to enter the victims’ real Coinbase accounts and transfer out their crypto holdings. The stolen funds moved into wallets controlled by Tomar and his network.
From those wallets, the cryptocurrency is converted into other digital assets. It then passed through multiple wallets before converting into Indian rupees through peer-to-peer crypto transactions.
The FBI arrested Chirag Tomar at Hartsfield-Jackson Atlanta airport on December 20, 2023.
A US court sentenced him to 60 months in prison, followed by two years of supervised release. ED launched its investigation after a newspaper report surfaced about Tomar’s arrest in the United States.
The Money Laundering Trail Across India
ED’s investigation traced the stolen crypto proceeds into multiple Indian bank accounts. Those accounts belonged to Tomar’s family members, group entities, and business associates.
Named entities in the prosecution complaint include M/s Tomar Group of Industries Private Limited and M/s Exahomes Realtors. Named individuals alongside Tomar include Pankaj Tomar, Kushagra Shakya, Akash Vaish, Rahul Anand, and Ketan Luthra.
The funds moved through layered bank accounts before converting into movable and immovable properties. This process allowed the proceeds of crime to appear as clean, untainted assets.
ED secured key evidence through Mutual Legal Assistance Treaty channels, requesting criminal proceedings details and evidence directly from US authorities. That cooperation proved central to tracing the financial flow back into India.
BREAKING: 🇮🇳 ED files charges against Chirag Tomar and others over a Coinbase phishing scam, attaches assets worth ₹64.55 crore. pic.twitter.com/sjVDqe5WPD
— Crypto India (@CryptooIndia) June 15, 2026
ED Freezes ₹64.55 Crore in Assets
The Enforcement Directorate has provisionally attached both movable and immovable properties totaling ₹64.55 crore.
The attachments cover assets connected to Tomar, his associates, and the entities named in the complaint. ED confirmed the investigation remains ongoing and further action may follow.
Alongside the legal action, the agency issued a public advisory warning citizens about phishing scams. ED flagged fake websites, emails, messages, and calls as common tools used to steal personal and financial data.
The agency advised people not to click unknown links, not to share OTPs, passwords, or banking details, and to verify any communication before responding. ED described the scam as an example of how stolen crypto can cycle back through domestic financial systems before authorities intervene.