Police in Mumbai have issued a look-out notice as they seek the arrest of six individuals connected to OneCoin, the digital currency scheme widely believed to be fraudulent.

The Hindu reported earlier this week that four Indians and two Bulgarians are wanted in connection with a widening investigation into OneCoin. The scheme's backers are accused of duping local investors through events, sparking a series of arrests in April.

The investigation is said to be lead by the Economic Offense Wing, which has issued look-out notices – used to alert immigration border checks to keep an eye out for certain individuals – in the past during its OneCoin investigation.

"If any of these six accused either try to fly out or come back to the country, we will be able to nab them," Shivaji Awate, senior police inspector with the Economic Offense Wing, said in a statement.

India isn't the only country seeking to stymie OneCoin.

Germany effectively banned the scheme's promoters from the country in April, a move that closely followed the forced closure of a payment processor connected to OneCoin. BaFin, Germany's top finance watchdog, also froze bank accounts containing €29m as part of that crackdown.

Image Credit: Yvdalmia / Shutterstock.com