India, Feb. 14 -- The Enforcement Directorate (ED) has reportedly seized assets worth INR 1,646 Cr ($189.5 Mn) in one of the biggest catches in a single search operation by an Indian agency.

The operation was part of an investigation led by the US authorities into a global $2.4 Bn "ponzi" cryptocurrency scandal, which allegedly duped hundreds of investors in more than 40 countries, ET reported.

The ED traced the mastermind behind the scandal Satish Kumbhani, founder of Bitconnect to Ahmedabad, the report added, citing sources.

Kumbhani went into hiding after his indictment in the fraud by a US district court, where he was accused of running a global ponzi scheme in the name of Bitconnect lending scheme.

(The story will be updated soon...