Indian police could not find celebrity hairstylist Jawed Habib when they executed a search warrant for him in $800,000 cryptocurrency fraud case affecting hundreds of investors.

Authorities accuse Habib and his son of promoting a fraudulent investment scheme that promised investors unusually high annual returns on investments in Bitcoin and Binance tokens.

Indian authorities escalated the investigation into a multi-crore cryptocurrency fraud targeting hairstylist Jawed Habib, his son Anos Habib, and an associate for a scam worth up to $800,000.

Police failed to find Habib at his residence on Wednesday after executing a search warrant.

Authorities strongly indicate that the scheme’s core entity, Follicle Global Company (FLC), operated as a family business. This alleged crime is a high-yield investment fraud disguised as a crypto opportunity. 

Apparently, the father-son duo utilized Habib’s powerful celebrity status to establish trust with investors. They allegedly lured between 100 and 400 people with the prospect of exorbitant 50% to 75% annual earnings.

These earnings were supposedly generated from investments in Bitcoin and BNB (promoted as Binance tokens) made through FLC.

As of this month, police have lodged over 30 First Information Reports against the Habibs and issued a lookout notice to prevent their flight from the country.

#WATCH | Sambhal, Uttar Pradesh | A team of Sambhal Police today visited the residence of hair stylist Jawed Habib in Sambhal in connection with case registered against him. https://t.co/KPDTzFsjGZ pic.twitter.com/wzcNdl2ycs

This high-profile case is part of a larger trend of recent major Bitcoin and crypto scams in India.

In August, Indian police convicted 14 people, including a former politician and police officer, for their involvement in a 200 Bitcoin extortion case dating back to 2018. All were convicted and sentenced to life imprisonment.

In July, a major security breach occurred at India’s leading cryptocurrency exchange, WazirX. The hack resulted in the theft of over $230 million in digital assets. 

The social engineering attack happened on a multi-signature wallet after attackers deceived the key holders into approving a malicious transaction.

Overall, these incidents in India reflect a broader global surge in crypto crime, with 2025 on track to be the most devastating year on record for stolen funds.

By mid-year, criminals have stolen over $2.17 billion globally. According to Chainalysis, this amount already surpasses the total lost in 2024.

The post He Styled Billionaire Celebrities by Day and Ran a Bitcoin Scam at Night appeared first on BeInCrypto.

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