The fact that really amazes me is how such a low rank (sorry, no offense) country is able to become one of the leading countrues of cryptocurrency using whereas such big countries like Russia, US are doing nothing, except issuing the regulations and taking taxes for crypto using. Ofc there are lot of scam, and a lot of are recovered but the problem is not even that there are a lot of them, but that the government looks at these cases and, in general, with distrust even refers to the blockchain technologies themselves, which in fact do no evil to anyone. People must separate cause and effect. A blockchain is not the cause of fraud. It occurs when general market rules are not created.
I believe you are referring to bitconnect scam! If yes, then let me tell you that Indian police force are only able to crack such cases where no politicians are involved. It's not because they lack anything, but it's because Indian police force is usually controlled by the politicians for their own good!
I will exactly go by the example of Neerav Modi, Mehul Choksi or even Lalit Modi! They are still outside the prison due to their strong political backing. The list also includes Sahara India as well as Vijay Mallya. I am sure the bitconnect promoter didn't have strong political backing which got them fucked!