India Detains Dubai-Based Man in Global Crypto-Hawala Crackdown
India's Enforcement Directorate has arrested Nihal V.N., a resident of Dubai, in connection with a major global crypto-hawala crackdown. The agency alleges that Nihal operated as a key financial node for transnational networks involved in drug trafficking.
The investigation linked illicit narcotics funds converted into cryptocurrencies with networks in Brazil and Thailand. Authorities stated that the structure processed cash derived from illicit trade to transform it into digital assets and international currencies.
During previous operations across 26 properties, authorities seized nearly 3 crore rupees in cash and various digital devices. The accused will face charges under the Prevention of Money Laundering Act (PMLA) after being presented before a court in Goa.