India’s Enforcement Directorate Freezes $1.3m Including Crypto Assets, in a $3.2m Fraud Case
India’s financial crime watchdog has intensified its crackdown on crypto-linked fraud after freezing assets worth approximately $1.3 million, including digital tokens, in connection with a larger $3.2 million investment scam, according to an official statement released on January 13, 2026. The Enforcement Directorate (ED), through its Chandigarh Zonal Office, confirmed that it has provisionally attached movable and immovable assets under the Prevention of Money Laundering Act (PMLA), 2002, following a land and cryptocurrency fraud investigation involving Sandeep Yadav and his associates. “The Directorate of Enforcement (ED), Chandigarh Zonal Office has provisionally attached movable and immovable properties worth Rs. 10.86 Crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in a land fraud case.” Crypto Assets and Property Seized The attached assets include residential flats and land valued at roughly $730,000, alongside cryptocurrency holdings worth about $580,000. Investigators disclosed that the seized digital assets were primarily held in the form of Ramifi tokens, stored across multiple crypto wallets linked to the accused. “The investigation leads to attachment of Flat & land worth Rs. 6.06 Crore and cryptocurrencies lying in the crypto wallets in the shape of Ramifi Tokens worth Rs. 4.79 Crore.” The case stems from a First Information Report (FIR) filed by the Haryana Police, alleging that the accused orchestrated a coordinated scheme combining fraudulent land sales with promises of unusually high crypto investment returns. How the Alleged Scheme Operated According to ED findings, Sandeep Yadav, along with Manoj Yadav and Mohan Sharma, allegedly targeted members of the public by selling plots fraudulently and enticing victims with claims of guaranteed profits from cryptocurrency investments. Investigators estimate that around 20 individuals were affected. “During a detailed financial investigation, it was found that Sandeep Yadav and his associates allegedly cheated around 20 people… by luring investors with promises of unusually high returns through cryptocurrency investments.” The total proceeds of crime generated from the scheme were assessed at Rs. 26.54 crore, equivalent to roughly $3.2 million. Authorities stated that funds were routed through third-party bank accounts, withdrawn largely in cash, and later deployed into property purchases and crypto assets to obscure their origin. Pattern of Repeat Offenses Further scrutiny revealed that the accused are not first-time offenders. The ED disclosed that multiple FIRs have been registered against the group in similar cases involving false promises tied to land sales and high-return investment schemes. Earlier searches conducted at 10 locations reportedly led to the recovery of additional cryptocurrencies worth $2 million and cash balances of approximately $55,000, which were subsequently frozen under the PMLA framework. “Further investigation has revealed that Sandeep Yadav and his associates are habitual offenders, with multiple FIRs registered against them.” Broader Implications The case underscores India’s growing focus on crypto-related financial crimes, particularly schemes blending traditional asset fraud with digital tokens. While cryptocurrency itself remains under regulatory scrutiny, enforcement agencies have increasingly demonstrated their ability to trace, freeze, and seize digital assets linked to alleged criminal activity. The Enforcement Directorate confirmed that further investigation is ongoing, signaling the possibility of additional attachments or prosecutions as authorities continue to follow the money trail.
Market Sentiment Stabilizes as Bitcoin’s Fear & Greed Index Returns to Neutral at 48
Global cryptocurrency markets showed signs of emotional balance returning this week as the widely followed Crypto Fear & Greed Index climbed sharply into neutral territory, marking a notable shift in investor psychology after months of caution. Bitcoin’s Fear & Greed Index rose to 48 on October 18, up from 26 a day earlier, according to data from Alternative.me. The 22-point jump places market sentiment firmly in the Neutral zone for the first time in months, suggesting that panic-driven behavior is giving way to more measured decision-making across digital asset markets. “Sentiment Shift: The Crypto Fear and Greed Index rose to 48 on October 18, significantly up from 26 the previous day, indicating a shift in market sentiment from fear to neutral, potentially providing new buying opportunities for investors.” The index, which ranges from 0 (Extreme Fear) to 100 (Extreme Greed), is designed to capture the emotional state of the crypto market by combining volatility, trading volume, social sentiment, surveys, Bitcoin dominance, and Google search trends. A reading near the midpoint often reflects a pause in emotional extremes, where neither fear nor excessive optimism dominates trading behavior. Key Takeaways What the Move to Neutral Really Signals A neutral reading does not imply a bullish breakout or an imminent sell-off. Instead, it points to stabilization. In recent weeks, Bitcoin and other major cryptocurrencies have traded within tighter ranges, easing the sharp price swings that typically drive fear-based sentiment. Lower volatility alone carries significant weight in the index’s calculation and played a key role in this week’s rebound. Trading activity has also picked up modestly. Volumes across major exchanges increased without the intensity associated with panic selling or speculative surges. This pattern suggests renewed participation from investors who had previously stepped back during periods of heightened uncertainty. Social sentiment has followed a similar trajectory. Crypto-related discussions have shifted away from collapse narratives and toward technical levels, network activity, and project fundamentals. This change in tone reflects a market that is reassessing value rather than reacting emotionally to short-term price movements. Bitcoin’s market dominance, hovering around 52%, has remained relatively stable, signaling balanced interest between Bitcoin and altcoins rather than a defensive rush into a single asset. That balance helped prevent the index from tilting sharply toward either fear or greed. Historical Context: Why Neutral Matters Historically, prolonged periods of extreme fear have coincided with market bottoms, while extreme greed has often preceded corrections. Neutral territory, typically defined between readings of 46 and 54, tends to act as a transition phase. During late 2022, the index spent extended stretches below 25 as markets reacted to macroeconomic tightening and industry-specific shocks. By contrast, previous bull market peaks saw readings well above 75, reflecting speculative excess. Neutral levels have often appeared during consolidation phases, when prices stabilize and investors reassess risk. “Market Stabilization Signal: Historical data shows that shifts from fear to neutral often indicate market stabilization, and experts recommend using this index alongside other metrics for a more comprehensive market analysis.” On-chain indicators appear to support the current sentiment reading. Exchange flow data and dormant coin metrics suggest a holding pattern rather than large-scale distribution or aggressive accumulation. This behavior aligns with a market that is waiting for clearer signals rather than positioning for immediate extremes. Impact on Investor Behavior The psychological effects of a neutral sentiment environment are significant. When fear dominates, investors tend to sell defensively, often at unfavorable prices. When greed takes over, risk management weakens as traders chase momentum. Neutral conditions reduce those pressures. “Improved Investor Confidence: This increase reflects enhanced investor confidence, and while no direct funding movements or institutional actions have been reported, this change may influence buying behaviors in Bitcoin and other crypto assets.” In this environment, long-term investors often focus on fundamentals such as network usage, development activity, and token economics. Short-term traders, meanwhile, tend to adopt range-bound strategies rather than betting heavily on breakouts. For newer participants, neutral sentiment provides a calmer entry point for learning and portfolio construction without the emotional intensity seen at market extremes. Some market participants also view neutral phases as opportunities for disciplined accumulation through dollar-cost averaging, particularly when broader macro conditions remain uncertain. Sentiment as a Supporting Indicator, Not a Forecast While the Fear & Greed Index is widely followed, analysts caution against treating it as a predictive tool on its own. Sentiment reflects reaction, not causation. Regulatory developments, interest rate expectations, liquidity conditions, and technological progress continue to drive long-term price direction. Still, shifts in sentiment can offer insight into how markets are processing those fundamentals. A move out of sustained fear often signals that selling pressure has eased, creating conditions where constructive price action becomes possible if supported by broader factors. “Investment Opportunities: The emergence of neutral sentiment is often viewed as a favorable time to assess market conditions, and while there are currently no direct financial impacts, this change may affect the performance of Ethereum and other major cryptocurrencies.” Conclusion Bitcoin’s Fear & Greed Index returning to a neutral reading of 48 marks a meaningful psychological reset for the crypto market. The shift reflects lower volatility, steadier trading activity, and a more balanced tone across investor discussions. While it does not guarantee upward price movement, it does suggest that fear-driven behavior is losing its grip. For traders and investors alike, the index now points to a market in reassessment mode—watchful, cautious, and increasingly analytical. Whether sentiment continues toward optimism or slips back into fear will depend on how upcoming macroeconomic signals and crypto-specific developments unfold in the weeks ahead.
