Thane Police Launch Investigative Crypto Cell Amid Rising Fraud
Thane Police Launch Special Crypto Cell to Fight Rising Scams In India
The increasing number of cryptocurrency-related crimes in India has led the authorities to take serious action. As digital fraud losses continue to rise, police forces are making significant efforts with the Investigative Crypto Cell to combat advanced cybercriminal actions that entail crypto assets.
What's the News
On September 27, 2025, Thane police (Mumbai Metropolitan Region) established a special Cryptocurrency Investigation Cell to reduce the increasing cybercrime of digital currencies.
The new cell is meant to trace anonymous cryptocurrency transactions and fight sophisticated schemes of spoofed transactions and layered bank accounts.
This step is in line with the global trends, with the number of crimes involving crypto-related activities increasing 42% in the U.S. between 2023 and 2024. The Thane project is a precedent in other areas where digital financial risks are on the rise.
Source: Bitinning X
Digital Currency Crimes Rising Over the Years 2025
Digital currency crimes have surged globally in 2025, with India witnessing a significant uptick. Between April 2024 and January 2025, India reported over ₹4,245 crore in digital financial frauds across 2.4 million incidents—a 67% increase from the previous year.
Source: ChainAnalysis
Globally, the number of crimes related to cryptocurrencies has never been as high as it is all over the world. By mid-2025, more than $2.17 billion had been stolen through cryptocurrency services, more than all of 2024. A major portion of these losses was due to the largest single hack in crypto history, the $1.5 billion ByBit breach.
Victims are concentrated in the U.S., Germany, Russia, Canada, Japan, Indonesia and South Korea, whereas Eastern Europe, MENA, and CSAO exhibit a rapid growth.
Source: Chainanalysis
Crypto Crime Cases Amid Rising Crypto Adoption in India
Case 1: A recent case highlights Delhi police arresting a 34-year-old Karnal resident, Naresh Kumar, for a ₹34 lakh cryptocurrency fraud under the name Coin-Ex Crypto Trading.
Case 2: Victims were lured via social media into manipulated trading groups promising high returns. Kumar allegedly provided multiple bank accounts to interstate syndicates for layering and diverting funds. Investigations traced ₹9 lakh across various accounts, while the accused received around ₹30,000 per month as commission.
Case 3: $44 million CoinDCX hack (Visit CoinGabbar News Section to read full Case)
Case 4: WazirX losses of 230 million (Visit CoinGabbar News Section to read full Case)
Case 5: $1.5 billion ByBit hack by the DPRK being the biggest crypto theft in history.
Case 6: ED files case against Raj Kundra for Rs 150 crore crypto fraud
Case 7: Notably, a "Digital Arrest" scam in Andhra Pradesh defrauded a retired doctor of ₹1.1 crore, with similar scams totaling ₹14 crore across eight states. Additionally, a rare coin scam in Hyderabad led to a loss of ₹3.6 lakh
Other Steps: Indian Government Regulatory Approach.
The Indian government has enhanced crypto crime prevention by undertaking various initiatives:
DoT and FIU-IND entered into an MoU to exchange real-time fraud risk information to identify suspicious mobile numbers that are being used in cybercrime at the earliest stage.
Over 2.84 crore fraudulent connections have been blocked, saving ₹140 crore in digital fraud.
Also, it has presented mandatory cybersecurity audits of all cryptocurrency exchanges, which will ensure the safety of users and their adherence to financial intelligence requirements.
India has required two-factor authentication for any digital payment transactions by its Reserve Bank, starting April 1, 2026, in an attempt to increase security and decrease fraud.
The measures are an indication of the proactive attitude of India to secure its expanding digital payment ecosystem against the changing threats associated with crypto.
Conclusion
As the cryptocurrency crimes are growing at a very high rate, the law enforcement and regulatory bodies in India are responding with serious measures. Organized research, more sophisticated analytics, and more stringent policies are designed to secure online resources and keep citizens safe against advanced cyber attacks.
