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India Arrests 10 in Chinese Crypto Money-Laundering Ring
India Arrests 10 in Chinese Crypto Money-Laundering Ring
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BTCCSquare news:
Indian authorities have dismantled a local cell of an international crypto money-laundering network, arresting 10 individuals accused of processing illicit funds for Chinese cybercriminals. The suspects allegedly converted fraud proceeds into digital assets through domestic bank accounts before repatriating the funds minus commissions.
The operation highlights growing concerns about cryptocurrency's role in transnational financial crime. Police reports indicate the syndicate employed sophisticated layering techniques, routing tainted money through multiple accounts before crypto conversion—a pattern consistent with recent investment scam surges across India.
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