- Canacona victim’s bank account was frozen after suspected fraud funds were diverted through it.
- Police are tracing two accounts to establish if holders were duped, negligent, or complicit.
- India has flagged 27.37 lakh mule accounts as cyberfraud losses continue rising.
A cryptocurrency investment offer in Canacona has widened into a cyber-fraud investigation after two bank accounts were frozen over suspected diverted funds. The restrictions followed the detection of suspicious transactions flowing through accounts supplied for receiving investor money.
The complainant, identified as Rohit Pagui, allegedly shared his HDFC Bank details after being promised returns from a digital-asset investment business. He also reportedly provided Sawan Dhuri’s account details after the accused requested another channel for funds.
According to local reports, the alleged crypto scam operated through an online application between September and October 2025. However, the matter expanded beyond a failed investment after Pagui discovered that both accounts had been frozen and placed under a lien.
He subsequently approached police, prompting a broader examination of how the accounts were used and where the suspected funds originated. Still, police have not disclosed the platform’s name, the accused’s identity, the amount lost, or the complete transaction trail.
How Diverted Funds Triggered the Bank Account Freeze
The case shows how a crypto scam can expose victims to consequences beyond losing their investment. Fraud networks commonly use domestic accounts to receive payments, transfer proceeds quickly, and separate organizers from the original transactions.
The Reserve Bank of India describes these channels as money-mule accounts used to launder proceeds from phishing, identity theft, and related offenses. However, the RBI also distinguishes between innocent third parties and people who knowingly assist fraudulent transfers.
That distinction is central in Canacona, where investigators must establish how the accounts were obtained, controlled, and used. Meanwhile, PSI Vishal Velip of Canacona Police Station continues to investigate the case and trace the movement of the suspected funds.
India Intensifies Its Crackdown on Money-Mule Accounts
The Canacona case forms part of a much broader national effort to identify and restrict accounts linked to cyber fraud. By January 31, 2026, India’s Cyber Crime Coordination Centre had identified more than 27.37 lakh first-layer mule accounts.
At the same time, participating financial institutions had declined suspicious transactions worth more than ₹9,518 crore. Moreover, by June 30, the national financial cyber-fraud response system had helped preserve over ₹11,158 crore across 32.80 lakh complaints.
The figures also reflect the growing scale of online fraud in Goa. Police recorded 131 cyber-fraud cases in 2025, compared with 85 cases in 2024, marking a significant annual increase.
Consequently, authorities advise victims to contact their banks immediately and preserve chats, receipts, wallet addresses, and transaction records. They should also report financial cyber fraud through the helpline or the National Cyber Crime Reporting Portal.
Related: Hong Kong’s HK$104M Fun Coffee Crypto Scam Explained
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