Indian authorities just slammed the brakes on a Bollywood-linked Bitcoin bust-up. $11 million worth of assets belonging to businessman Raj Kundra, husband of actress Shilpa Shetty, have been temporarily seized by the Enforcement Directorate (ED).

The reason? Possible involvement in a multi-million dollar Bitcoin scam.

The ED suspects Kundra of money laundering related to a massive Ponzi scheme dubbed "Gain Bitcoin." Investigators believe the scheme's masterminds, the Bhardwaj brothers, bilked investors out of a staggering $792 million in Bitcoin by promising sky-high returns of 10% per month.

Here's where Kundra allegedly enters the picture. The ED claims he received 285 Bitcoin, valued at over $18 million today, from the scheme's architect, Amit Bhardwaj. These Bitcoins were supposedly meant to fund a Bitcoin mining operation in Ukraine, but the deal never materialized.

Now, the authorities are looking at Kundra for potentially holding onto these ill-gotten gains. While Kundra hasn't commented on the accusations, the ED's move highlights the growing scrutiny surrounding cryptocurrency and the potential for fraud in the digital gold rush.

This isn't Kundra's first brush with the law. In 2021, he was arrested for producing and distributing pornography. While he secured bail, this latest Bitcoin brouhaha raises questions about his involvement in this alleged crypto caper.

The investigation continues, with the main suspects, the Bhardwaj brothers, still on the lam. Meanwhile, Kundra's seized assets serve as a cautionary tale for anyone considering dabbling in shady crypto schemes - the potential consequences could leave you singing the blues.