India's Crypto Boom Meets Tax Filing Season in Phishing Nightmare

India's tax-filing season has collided with its growing cryptocurrency market, creating a new cyber risk as phishing gangs target taxpayers.

CoinDCX co-founder Sumit Gupta warned that genuine refunds rarely arrive immediately after filing and advised taxpayers to be cautious of messages claiming 'refund approved' while demanding urgent updates.

The India ITR process now includes exchange statements, wallet histories, token disposals, and tax deduction records, making cryptocurrency a significant reporting area for many filers.

Phishing scams are taking advantage of the complex filing process, with fake messages claiming to resolve immediate problems such as delayed payments or alleged filing errors.