CBI charges 2 Chinese nationals in ₹1,000cr HPZ Token scam
The CBI has named 30 people—including two Chinese nationals, Wan Jun and Li Anming—in a massive ₹1,000 crore fraud involving the HPZ Token app.
During the COVID-19 lockdown, the group allegedly used fake investment and loan apps to trick users with promises of crypto mining profits, then funneled money through shell companies and sent it abroad.
How the scam worked—and where things stand now
According to investigators, Shigoo Technology Pvt. Ltd. ran the HPZ Tokens app and over 150 shell accounts to collect funds from unsuspecting investors.
The CBI's probe started in October 2025 and led to six arrests, with digital evidence linking everything back to an overseas syndicate.
The chargesheet—filed December 10, 2025—also names three companies.
The investigation is still ongoing as authorities dig deeper into how these networks operated.