Indian Authorities Uncover Crypto Laundering Ring Moving ₹5.24 Crore Through Hawala and Digital Assets
Indian law enforcement dismantled a sophisticated crypto laundering operation, arresting nine individuals tied to a syndicate that funneled illicit funds through traditional hawala networks and cryptocurrency channels. The group utilized over 10,000 transactions linked to a single bank account, masking the trail of ₹5.24 crore ($630,000).
Members operated under a cloak of mobility—equipped with burner phones and shifting locations to evade detection. Promised high commissions, recruits facilitated fraud by procuring bank accounts for laundering. Police raided a Dwarka hotel on November 26 after intercepting intelligence signals, apprehending four key suspects.
The scheme highlights the growing intersection of crypto and organized crime in India, where regulators remain vigilant against misuse of digital assets for financial obfuscation.
