Raids Underway Across 4 Cities In Rs 260 Crore Global Cyber Fraud Case

In a major crackdown on an international cyber fraud racket, the Enforcement Directorate (ED) is conducting extensive search operations at 11 locations across Delhi, Noida, Gurugram, and Dehradun. The raids are part of an ongoing investigation into a massive scam involving extortion, impersonation, and cryptocurrency laundering under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

The ED's probe stems from multiple FIRs registered by the Central Bureau of Investigation (CBI) and Delhi Police. Investigations have so far revealed that both foreign and Indian nationals were targeted and defrauded by cybercriminals posing as police officers, law enforcement agents, or tech support executives from major companies like Microsoft and Amazon.

Using fear tactics, the fraudsters threatened victims with arrest or legal consequences, coercing them into transferring large sums of money. In many cases, victims were manipulated into believing their devices were compromised and were tricked into granting remote access or making payments under the pretense of resolving security issues.

The extorted money was swiftly converted into cryptocurrencies, mainly Bitcoin, and stored in multiple digital wallets. The investigation has uncovered that the accused amassed approximately Rs 260 crore worth of Bitcoins, which were later converted into USDT (Tether) and funneled out through a network of hawala operators based in the UAE.

The ongoing searches are aimed at unearthing more evidence, identifying key operatives, and disrupting the financial trails of the syndicate. The ED is expected to seize digital devices, crypto transaction records, and assets linked to the laundering operation.

Further details are awaited as the operation continues.