Indian police apprehend nine for running illegal crypto activities
The Indian police have arrested nine members of a criminal syndicate for illegally buying and selling bank accounts used to facilitate several cyber frauds. According to authorities, the criminals used the bank accounts to route illegal funds, moving them through hawala channels and digital asset transactions.
According to the Indian police, the criminal syndicate has been able to launder funds in excess of Rs. 5.24 crore (approximately $578,724), which authorities were able to trace to a single account. Indian police noted that their attention was drawn to the syndicate, which operated out of a hotel in Dwarka. After carrying out due diligence and acting on a sure tip-off, they carried out a raid on the location, arresting…
