The Enforcement Directorate (ED)\u2019s questioning by Raj Kundra, businessman, and husband of Bollywood actress Shilpa Shetty, at its Mumbai office in connection with an alleged bitcoin scam for eight gruelling hours may have opened up a can of worms with many the names of many celebrities cropping up, according to recent reports.\r\n\r\nThe high-profile celebrities whose names came up during the questioning are Sunny Leone, Prachi Desai, Aarti Chhabria, Sonal Chauhan, Karishma Tanna, Zareen Khan, Neha Dhupia, Huma Qureshi, and Nargis Fakhri. The law enforcement agency may also question Kundra\u2019s wife, actress Shilpa Shetty. The questioning revolves around Raj Kundra alleged links with Amit Bhardwaj, who has been accused of a\u00a0$300 Mn bitcoin scam.\r\n\r\nAs reported yesterday\u00a0(June 5), Kundra\u2019s name in the said scam cropped up during the ongoing interrogation of Amit Bharadwaj.\r\nBitcoin Scam: The Ongoing Saga\r\nIt\u2019s been two months since Amit Bhardwaj and his brother Vivek Bhardwaj were arrested from the Delhi Airport on their arrival from Bangkok on charges of allegedly cheating 8,000 people across the country and abroad to the tune of $300 Mn (INR 2,000 Cr).\r\n\r\nIn 2016, Bhardwaj had established a slew of startups which were dealing with all the aspects of cryptocurrencies \u2014 mining, exchange, wallet, research and development, and MLM schemes.\r\n\r\nThe scam came to light when, in July last year, Zakhil Suresh, a GainBitcoin investor, started a petition on change.org. Signed by more than 1,000 people, the petition appealed for Bhardwaj\u2019s arrest for alleged fraudulent schemes.\r\n\r\nThe police had also arrested seven people, including Hemant Vishwas, Hemant Babasaheb Chavan, Ajay Tanaji Saheb, Pankaj Srinandkishore, and Chandrakant Bhope, in connection with the scam. A couple of weeks ago,\u00a0Darwin Labs founders Sahil Baghla (former Bluegape founder) and Nikunj Jain (former Frankly.me founder and an angel investor) had been arrested in connection with the Bhardwaj case.\r\n\r\nAlthough this is the most high profile cryptocurrency scam to come to light in India, there have been previous instances where cryptocurrency, a relatively new concept with lack of clarity around how the technology works, has been used to lure naive victims all in the hopes of making a quick buck.\r\n\r\nLast year, a gang of crooks which floated a fictitious cryptocurrency Kashhcoins\u00a0set up a website and duped several people in Delhi and other parts of the country before the crime branch arrested a key player. The arrests came after the police were tipped by one of the buyers who was duped off $21,824 (INR14 lakh).\r\n\r\nCases like these are a definite blow to bitcoin enthusiasts in India who hope to see the digital currency be made legal. Right now, the cryptocurrency is neither legal or illegal, but the government and authorities seem to be very critical of it.\r\n\r\nIn fact, the RBI banned\u00a0banks from allowing people to transfer money from their bank account into bitcoin wallets. Laws and regulations, to a certain extent, are dictated by the public\u2019s awareness and its perception. Cases like these can lead to increased distrust among both consumers and regulators.\r\n\r\nWith celebrities getting involved in the Bitcoin scam, many will be introduced to the world of cryptocurrency through the Bhardwaj case, which could serve as a precedent of what is to come in the future of Bitcoins and cryptocurrency in India.