He Styled Billionaire Celebrities by Day and Ran a Bitcoin Scam at Night
Indian police couldn’t discover superstar hairstylist Jawed Habib after they executed a search warrant for him in $800,000 cryptocurrency fraud case affecting a whole bunch of traders.
Authorities accuse Habib and his son of selling a fraudulent funding scheme that promised traders unusually high annual returns on investments in Bitcoin and Binance tokens.
Celebrity Hair Stylist Linked to Crypto Ponzi Scheme
Indian authorities escalated the investigation into a multi-crore cryptocurrency fraud concentrating on hairstylist Jawed Habib, his son Anos Habib, and an affiliate for a rip-off value as much as $800,000.
Police failed to search out Habib at his residence on Wednesday after executing a search warrant.
Authorities strongly point out that the scheme’s core entity, Follicle Global Company (FLC), operated as a household enterprise. This alleged crime is a high-yield investment fraud disguised as a crypto alternative.
Apparently, the father-son duo utilized Habib’s highly effective superstar standing to ascertain belief with traders. They allegedly lured between 100 and 400 folks with the prospect of exorbitant 50% to 75% annual earnings.
These earnings had been supposedly generated from investments in Bitcoin and BNB (promoted as Binance tokens) made by means of FLC.
As of this month, police have lodged over 30 First Information Reports towards the Habibs and issued a lookout discover to stop their flight from the nation.
Crypto Crimes Sweep India
This high-profile case is a part of a bigger development of current main Bitcoin and crypto scams in India.
In August, Indian police convicted 14 folks, together with a former politician and police officer, for his or her involvement in a 200 Bitcoin extortion case relationship again to 2018. All had been convicted and sentenced to life imprisonment.
In July, a main safety breach occurred at India’s main cryptocurrency change, WazirX. The hack resulted within the theft of over $230 million in digital assets.
The social engineering attack occurred on a multi-signature wallet after attackers deceived the important thing holders into approving a malicious transaction.
Overall, these incidents in India replicate a broader global surge in crypto crime, with 2025 on monitor to be probably the most devastating yr on document for stolen funds.
By mid-year, criminals have stolen over $2.17 billion globally. According to Chainalysis, this quantity already surpasses the full misplaced in 2024.
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