India’s top investigative agency has arrested a man in New Delhi and seized around ₹2.8 crore (about $327,000) in cryptocurrency.
According to a June 11 press release by the Central Bureau of Investigation (CBI), the arrest took place during searches at three locations on June 10, all of which were linked to an online fraud ring targeting individuals in the US and Canada.
The suspect, Rahul Arora, is accused of helping run a scam that tricked people by pretending to be government or tech support workers.
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During the raids, officials found tools used to fake caller ID, devices meant for international calls, software for collecting personal information, and recordings of phone conversations. The team also recovered ₹22 lakh (about $26,400) in cash that had not been declared.
The CBI stated in a press note that these searches were based on solid leads and that they had discovered evidence of a group involved in cyber fraud across countries.
The raids were part of a campaign called Chakra-V, which brings together Indian state cyber units, the Indian Cyber Crime Coordination Centre (I4C), and international groups like Interpol and the FBI. The campaign focuses on finding digital clues, blocking illegal use of cryptocurrencies, and monitoring criminal activity on the dark web.
Officials said they have also made arrangements to store and manage the seized crypto in line with Indian laws. The rules require the assets to be handled while the legal process continues.
On June 9, authorities in Queensland, Australia, arrested four suspects linked to a crypto-related laundering scheme. How did the case unfold? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
