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ED raids across many cities; OctaFX trading scam linked to Spain; Indian investors cheated of Rs 800 crore
The Enforcement Directorate (ED) conducted raids in seven cities in the Rs 800 crore online forex trading scam through the OctaFX app. The investigation revealed that donkey accounts were used for illegal money transfer. Investors were duped, and the URL was also hidden to hide the source of the money.
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“ED raids across many cities; OctaFX trading scam linked to Spain; Indian investors cheated of Rs 800 crore”
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en.sangritimes.com
17 Jun 2025
The Enforcement Directorate (ED) has conducted raids in seven cities of the country in the Rs 800 crore scam case related to online forex trading through the OctaFX app and website.
Initial investigations have revealed that donkey accounts were used for illegal money transfer, and investors were duped. At the same time, the investigation also revealed that the URL was hidden to hide the source of the money. According to the investigation so far, its network extends to Spain.
The issue was given prominence when Pune witnessed the registration of an FIR. Here, some have filed charges against OctaFX of cheating investors by enticing them with huge profits.
