Paytm and Razorpay investigated for links to ₹2,200 crore cryptocurrency scam

The Enforcement Directorate (ED) is investigating eight payment gateways, including Paytm and Razorpay, for freezing nearly ₹500 crore linked to a cryptocurrency scam involving Chinese nationals. The scam reportedly collected over ₹2,200 crore across 20 Indian states. The ED's probe focuses on the HPZ Token scam, which allegedly allowed investments in cryptocurrency mining through a mobile app. The agency is tracking the flow of funds and checking for suspicious transaction reports from the payment gateways. The largest amount frozen was from PayU at ₹130 crore, followed by Easebuzz at ₹33.4 crore. Other affected gateways include Razorpay, Cashfree, and Paytm, with smaller amounts frozen as part of the investigation.