ED Orders Attachment of Wealth Belonging to Bitcoin Fund Founder Hemant Sharma

The Economic Offences Directorate (ED) in Dehradun has formally ordered the attachment of assets worth ₹8.54 crore belonging to Hemant Ishwar Sharma, the founder of the cryptocurrency investment portal BTCFund.is.

According to ED statements, Sharma duped investors by promising lucrative Bitcoin returns and fabricating the involvement of overseas partners, creating the illusion of an internationally backed venture. The fraud spanned from 2014 until the platform’s abrupt shutdown in 2018, after which victims were left without recourse.

Blockchain tracing revealed that the illicit proceeds—about 856.23 BTC, equivalent to roughly ₹200 crore—were funneled into real‑estate acquisitions, luxury vehicles, and the renovation of Sharma’s personal residence. The provisional attachment, issued under PMLA on July 31, follows earlier seizures totaling ₹4.56 crore. Sharma remains incarcerated at Sidduwala jail, with a charge sheet filed on May 20 and court proceedings commenced on July 13.