Phishing Gangs Target India's Crypto Taxpayers During ITR Season

India's tax season is colliding with its growing cryptocurrency market, creating a new cyber risk for taxpayers. As millions reconcile exchange records, wallet transfers, and deductions, phishing gangs are taking advantage of the situation.

CoinDCX co-founder Sumit Gupta warned that genuine refunds rarely arrive immediately after filing. He advised taxpayers to treat messages claiming 'refund approved' while demanding urgent updates as warning signs.

Gupta cautioned against embedded links and urged taxpayers to verify every claim through the official income-tax portal. With India ranking first in Chainalysis' 2025 Global Crypto Adoption Index, digital assets are becoming a significant part of tax compliance.