Gujarat CID Arrests 25-Year-Old Man Linked to $14 Million Crypto Scam
A 25-year-old man named Rafiqool Alam has been arrested by the Gujarat CID in connection with over 1,090 cybercrime cases that resulted in losses of more than ₹1,071 crore. The police investigation linked Alam to a Chinese gang and found that he had distributed the looted money across thousands of bank accounts in India before converting some portions into cryptocurrency.
The operation began when the cyber police helped a person targeted by fraudsters using forged Maharashtra Police and Supreme Court documents. Investigators found that Alam had shared information related to wallets, passwords, scanners, user IDs, and criminal instructions with Chinese associates via WhatsApp and Telegram.
Police seized 23 cryptocurrency wallets containing approximately ₹16 crore in traceable transactions on Alam's phone. The investigation also revealed that chip sellers and online game accounts were used as modes of money transaction during the operation.