The Gujarat CID Crime’s Cyber Centre of Excellence has uncovered a massive international cryptocurrency network allegedly involved in terror financing, cyber fraud, dark web narcotics trade, hawala transactions, and money laundering. Authorities said the investigation traced financial transactions exceeding ₹226 crore and led to multiple arrests across Gujarat and Mumbai.
Links To Hamas, Houthis And Global Criminal Networks
Investigators claimed the syndicate maintained financial links with entities associated with Hamas financing operations and Yemen’s Houthi group, also known as Ansar Allah. Officials also found alleged connections with Iran-linked networks, Russia-based crypto exchange Garantex, and several dark web marketplaces connected to drug trafficking and illegal financial operations.
According to Gujarat CID officials, the network allegedly converted “dirty crypto” into USDT stablecoins before routing the money through hawala channels and crypto wallets connected to international terror outfits, narcotics syndicates, and criminal organisations operating across multiple countries.
Dark Web Drug Trade Route Between India, Dubai And UK
Police said the operation exposed a narcotics supply chain functioning between India, Dubai, and the United Kingdom since 2023. The accused allegedly sourced drug orders through Telegram groups and dark web platforms before coordinating deliveries abroad. Payments were reportedly converted into cryptocurrency and routed back through informal money transfer systems.
Investigators also alleged that one UK-based suspect continued operating the network from prison after being sentenced in a narcotics case in Britain. Authorities recovered Monero wallets and several crypto accounts allegedly used to hide illegal transactions worth crores of rupees.
Cyber Fraud Complaints And Money Laundering Trail
The probe began after cyber investigators detected suspicious cryptocurrency transactions linked to an Indian IP address connected with a dark web narcotics marketplace. Blockchain analysis later uncovered a wider web of interconnected crypto wallets and bank accounts allegedly involved in cyber fraud and laundering activities.
Officials stated that linked bank accounts were associated with hundreds of cyber fraud complaints registered across India. The accused allegedly used layered crypto transfers, mule accounts, peer-to-peer trading systems, and hawala channels to disguise the origin of funds and avoid detection.
Investigation Continues As More Arrests Expected
The Gujarat CID Crime has intensified the investigation and indicated that more arrests could follow as digital evidence and financial trails are examined further. Officials are also probing whether sensitive information or financial assistance may have been shared with extremist or international criminal organisations through the crypto network.
