The Enforcement Directorate (ED) on Tuesday raided 11 locations across Delhi, Noida, Gurugram, and Dehradun in connection with a sprawling global cyber fraud case worth over ₹260 crore, involving cryptocurrency and hawala networks.

The searches, conducted under the Prevention of Money Laundering Act (PMLA), follow multiple FIRs registered by the CBI and Delhi Police.

🚨 How the Scam Worked

Investigators revealed that fraudsters posed as police officers and tech support agents from top firms like Microsoft and Amazon. Victims worldwide were duped through fake technical support calls and threats of legal action, forcing them to transfer large sums of money.

The extorted funds were converted into cryptocurrency — mainly Bitcoins — and later liquidated into cash via USDT (Tether). The money was then routed through hawala channels to the UAE, creating a complex international money trail.

💰 Assets and Evidence Seized

So far, illegally acquired assets worth ₹260 crore have been traced, largely held in Bitcoins and linked to both Indian and foreign nationals. The raids led to the seizure of digital devices, documents, and financial evidence, strengthening the ED’s case against the accused.

🌍 Global Network Under Scanner

Officials suspect an organized international cybercrime syndicate, with operatives targeting victims across multiple countries, including India. The ED is coordinating with international financial intelligence units to trace the cross-border flow of illicit funds.

🔎 What’s Next

The probe remains at a critical stage, and sources indicate that more arrests and revelations may follow. The ED aims to dismantle the entire network behind one of the country’s largest-ever crypto-related frauds.