India Busts Large-Scale Crypto Money Laundering Scheme Involving 1,090 Cybercrimes
A 25-year-old man named Rafiqool Alam has been arrested by Gujarat CID in connection to 1,090 cybercrime cases, resulting in losses exceeding ₹1,071 crore. The investigation revealed a complex money laundering scheme involving cryptocurrency and bank accounts.
According to the police, Alam distributed the looted funds across thousands of bank accounts in India and converted some portions into cryptocurrency. Investigators found that he had shared information about wallets, passwords, and criminal instructions with his Chinese associates via WhatsApp and Telegram.
The operation, which lasted three days, also prevented multiple extortion transfers and blocked further payments from victims to the fraudsters. The police were able to prevent transactions totaling ₹20 lakh in Ahmedabad, Surat, Jamnagar, Mumbai, Raipur, Sundargarh, and Bhubaneswar.