Odisha EOW Arrests Key Accused in ₹200 Crore Crypto-Ponzi Scam
The Economic Offences Wing (EOW) of Odisha Police has arrested Chitta Ranjan Mohanty from Jagatsinghpur for his alleged involvement in a massive cryptocurrency Ponzi scheme worth over Rs 200 crore.
The fraudulent platform, “Yes World”, lured investors with promises of high returns through crypto investments.
Investigations revealed it operated as a pyramid-style Ponzi scheme, enrolling “downline members” and using websites, mobile apps, WhatsApp groups, and promotional meetings to attract participants.
According to police, nearly 2.5 lakh people across India were duped, including 8,000+ victims in Odisha from districts such as Bhubaneswar, Khordha, Bhadrak, Kendrapara, Jagatsinghpur, Keonjhar, and Nayagarh.
Evidence shows that Rs 19.32 lakh was directly transferred into Mohanty’s personal bank accounts.
Two mobile phones were seized during his arrest. Earlier, co-accused Sandeep Choudhury and Shankar Sarkar had also been arrested in connection with the scam.
The case originated from a complaint filed by Swagat Kumar Nayak of Puri, who alleged he was cheated of Rs 85,000.
Authorities warn that the scam highlights the growing misuse of crypto platforms for fraudulent money circulation schemes in India.
