THE JHARKHAND STORY DESK
New Delhi, August 6: The Enforcement Directorate (ED) on Wednesday carried out raids at 11 locations in Delhi, Noida, Gurugram, and Dehradun as part of an investigation into a global cybercrime racket that allegedly laundered Rs 260 crore through illegal cryptocurrency transactions.
According to officials, the fraudsters tricked victims—both Indian and foreign nationals—by impersonating law enforcement officers and threatening arrest to extort money.
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In some cases, the accused posed as technical support representatives from companies like Microsoft and Amazon, enabling them to gain access to sensitive information and siphon off funds.
The illicit proceeds were allegedly converted into cryptocurrencies, mainly Bitcoin, and stored across multiple wallets.
ED’s probe indicates that these assets were later liquidated by converting Bitcoins into USDT (Tether) and moved through a network of hawala operators and intermediaries based in the UAE.
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The investigation, initiated under the Prevention of Money Laundering Act (PMLA), stems from FIRs registered by the CBI and Delhi Police. Officials have confirmed that efforts are underway to identify additional beneficiaries and recover the laundered funds.
