The Enforcement Directorate has launched a series of coordinated raids across multiple cities in connection with a ₹260 crore cryptocurrency-linked cyber fraud. The crackdown is part of an ongoing investigation under India’s anti-money laundering framework, with further asset attachments and arrests reported in related cases across the country.
The Enforcement Directorate (ED), under the Ministry of Finance, Government of India, is actively conducting search operations at 11 different premises in Delhi, Noida, Gurugram, and Dehradun on August 6, 2025. These actions are linked to a sprawling cryptocurrency fraud operation that exploited unsuspecting victims through digital impersonation and coercive tactics.
The agency’s probe stems from multiple First Information Reports (FIRs) filed by the Central Bureau of Investigation (CBI) and Delhi Police. The accused allegedly posed as technical support agents for global technology firms, using this cover to defraud individuals—both within India and overseas—by falsely claiming legal infractions and threatening arrest to extort funds.
Once collected, the fraudulently acquired funds were reportedly routed into cryptocurrency wallets, masking the origin and enabling cross-border laundering. The ongoing investigation is being conducted under the Prevention of Money Laundering Act (PMLA), 2002, with the objective of tracing and confiscating proceeds of crime in the digital ecosystem.
Also Read: Lookout Issued! Anil Ambani Faces ED Heat in Loan Fraud Probe
Crypto Laundering: ₹42.8 Crore Assets Attached from Indian Arrested Abroad
In a parallel enforcement action, the ED has provisionally attached assets worth ₹42.8 crore belonging to an Indian national currently incarcerated in the United States. The individual is accused of operating a fraudulent portal designed to mimic the appearance of a global cryptocurrency exchange and illicitly acquiring over USD 20 million through deceptive practices. The attached assets were allegedly acquired using proceeds from this digital fraud scheme.
Bengaluru Sees ₹384 Crore Crypto Breach via Wallet Exploit
Meanwhile, a major cybercrime incident has also emerged in Bengaluru, Karnataka, where a high-value theft of cryptocurrency was reported by a private digital asset trading firm. The company, operating under the name Neblio Technologies Private Limited, reported a ₹384 crore (USD 44 million) loss following unauthorized access to its internal crypto wallet on July 19, 2025.
Investigations revealed that the stolen funds were quickly redistributed across six unidentified digital wallets. The Bengaluru Police have arrested Rahul Agarwal, a company employee, for interrogation in connection with the breach.
| Case Description | Location | Estimated Amount | Current Status |
| Tech Support Impersonation Fraud | Delhi-NCR, Dehradun | ₹260 crore | ED raids ongoing |
| Fraudulent Exchange Website Embezzlement | United States (India link) | ₹42.8 crore | Assets attached, accused detained |
| Crypto Wallet Breach at Private Firm | Bengaluru, Karnataka | ₹384 crore | Accused employee under custody |
These incidents highlight the increasing exploitation of cryptocurrencies in organized financial crime and the growing regulatory need for transparent oversight in the digital asset sector. With law enforcement agencies strengthening digital forensics capabilities and tightening surveillance, the move reflects a broader policy commitment to curb cyber-enabled money laundering.
READ MORE ON
