ED uncovers ₹260 crore international cyber scam using fake cops, crypto laundering, and UAE hawala links
New Delhi: In a sweeping crackdown on a sophisticated international cyber fraud syndicate, the Enforcement Directorate (ED) on Tuesday launched coordinated search operations at 11 locations across Delhi, Noida, Gurugram, and Dehradun. The raids, conducted under the Prevention of Money Laundering Act (PMLA), 2002, are part of an ongoing probe into a massive extortion and cryptocurrency laundering racket.
According to ED officials, the operation stems from multiple FIRs filed by the Central Bureau of Investigation (CBI) and Delhi Police. The investigation has uncovered a complex network of cybercriminals who impersonated law enforcement officers and tech support executives from companies like Microsoft and Amazon to dupe unsuspecting victims, both Indian and foreign nationals.
Using high-pressure tactics and psychological manipulation, the fraudsters instilled fear in their targets by falsely accusing them of criminal activities or system breaches. Victims were threatened with arrest, legal action, or data leaks, forcing them to part with large sums of money. In several cases, they were tricked into granting remote access to their devices or making payments under the guise of resolving fabricated security issues.
The extorted funds were swiftly funneled into cryptocurrencies, primarily Bitcoin, which were then converted into Tether (USDT) and routed through hawala operators based in the UAE. So far, the ED has traced cryptocurrency holdings worth approximately ₹260 crore linked to the syndicate.
“The ongoing searches are focused on uncovering digital evidence, seizing cryptocurrency wallets, transaction records, and assets connected to the laundering operation,” an official source said. Authorities are also working to identify the key players in the syndicate and dismantle its financial and operational backbone.
The raids are expected to yield crucial insights into the modus operandi of one of the largest cyber fraud networks operating in and out of India. Further details are awaited as the multi-agency operation unfolds.
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