- Gujarat Cyber Cell busts ₹226 crore crypto network, arrests terror-linked suspects.
- The police used deep blockchain analysis to track the group’s suspicious transactions.
- Law enforcement has said nine syndicate members have been arrested across India.
The Gujarat Cyber Center of Excellence has busted an international syndicate operating a Rs 226 crore cryptocurrency network.
According to reports, the syndicate specializes in routing illicit funds into notorious global terror organisations, including Hamas and Houthis. They are also involved with international drug networks and smuggling syndicates operating across multiple continents.
Tracked With Deep Blockchain Analysis
The crackdown on the syndicate involved deep blockchain analysis by the Cyber Center’s technical team, which flagged a highly suspicious Indian IP address. The team spotted a transaction between Artemis Lab, a prominent dark web marketplace renowned for large-scale online narcotics trading, and the IP address, with the latter directly receiving funds from the former.
By tracking further, investigators discovered that the recipient’s wallet belonged to Mohsin Sadiq Molani, who lived in Ahmedabad. That initial link led the team to dig deeper, discovering nine additional linked crypto wallets spread across the country and establishing the baseline framework for an aggressive financial pipeline.
India’s Biggest Crypto-Terror Bust of 2026
Indian cryptocurrency influencer Jaskaran Singh, aka Crypto Aman, described the crackdown as India’s biggest crypto-terror bust of 2026. He highlighted some of the key discoveries from the raid, including a darknet drug network running across India, Dubai, and the UK with a sustained supply chain since 2023, executing payments via XMR, USDT, and Hawala.
According to Singh’s report, the group transacted up to $23.96 million (Rs 226 crore), but nine syndicate members have been arrested across India, with one of them linked to a $7.5 million transaction volume. The arrested suspects are also linked to 935 cyber fraud complaints.
Tracked by a Specialized Team of Experts
The individuals involved in the syndicate crackdown include Director General of Police Dr. K. Lakshmi Narayanan Rao and Deputy Inspector General Bipin Ahire, guiding the operation, which was spearheaded by Superintendents of Police Dr. Rajdeepsinh Zala, Sanjay Keshwala, and Vivek Bheda.
According to investigators, roughly 30% to 40% of the Rs 226 crore under scrutiny constitutes pure dirty crypto directly tied to illegal activities. The suspects converted their proceeds into cash using P2P methods across bank accounts that have since been matched to 935 distinct cybercrime complaints on the National Cyber Crime Reporting Portal.
Related: India Probes Crypto Use in Terror Financing Linked to Pakistan
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
