₹200 Cr Crypto Laundering Case: Gujarat-Dubai Network Busted

Gujarat CID Cracks Digital Scam: Dubai Linked Crypto Laundering Case

In a landmark operation, the Gujarat CID (Crime) and the Railways Cyber Centre have uncovered a ₹200-crore Crypto Laundering case spanning between Gujarat and Dubai.

Police arrested six people allegedly running one of India’s most complex digital money-laundering syndicates, involving fake online jobs, loan scams, and high-return investment frauds. Officials described it as a sophisticated operation that not only involved cryptocurrency wallets but  hawala channels, angadia couriers also to move funds overseas.

Source: Times of India

How the Scam Network Operated 

Investigators found that the gang was handling more than 100 bank accounts linked to 386 cybercrime cases across India, including 29 in Gujarat.

Here’s how their money-laundering chain worked:

• Stolen money was first deposited into fake or “mule” bank accounts under bogus company names.

• The cash was withdrawn in Morbi after being collected from these accounts.

• It was then sent to Surat through angadia couriers (local cash delivery agents).

• In Surat, the money was converted into cryptocurrency — mainly USDT (Tether).

• Finally, the stolen amount was transferred to Dubai using hawala networks and crypto wallets.
  

The identified accused, each played a specific role, from recruiting account holders to arranging crypto-transfers. The gang even set up a fake trading company to make their transactions look real. Police said account holders were paid ₹25,000 a month, and the couriers who helped move cash earned ₹650 for every ₹1 lakh laundered.

Other Recent Crypto Money Related Cases and Cyber Heists

Gujarat Crypto Laundering case just joined the list of other recent most global crypto-money thefts, adding one more news  to make headlines.

• Moonwell Exploit (Nov 4, 2025): A leading DeFi lending protocol lost about $1 million after hackers manipulated an Oracle feed, inflating token prices and draining liquidity on the Base and Optimism networks.
  

• Balancer Hack (Nov 3, 2025): Attackers exploited a bug in Balancer’s V2 Vault function, letting them withdraw funds illegally. Early reports suggested losses exceeding $100 million, later rising to $116 million.

These incidents show how weak validation or external data errors can trigger massive cryptocurrency thefts, reminding users that even trusted DeFi platforms remain vulnerable.

Growing Concern: Blockchain Abuse and User Safety

These cases highlight how blockchain’s speed and anonymity can be exploited when traditional banking oversight is absent. Yet, experts insist the same technology can also strengthen transparency if users understand the basics of digital money and law enforcement adapts quickly.

Cyber experts’ advice for users:

• Never respond to loan or job ads promising “quick profits.”

• Verify any investment app or platform on official websites before sending money.

• Avoid unknown wallets or sharing seed phrases.

• Use verified crypto-exchanges with KYC and AML compliance.

• Report suspicious messages or accounts immediately at cybercrime.gov.in.
  

Authorities believe this is just the beginning of a wider clean-up drive against crypto-enabled money-laundering networks in India.

As investigations continue, the Crypto Laundering case Gujarat India serves as both a warning and a call for stricter coordination between financial institutions, exchanges, security agencies, and users themselves.