Major Cybercrime Crackdown Exposes Devastating Rs 100 Crore Bitcoin Fraud Operation in India

India Cybercrime Raid Reveals Massive Bitcoin Fraud Scheme

TL;DR Indian authorities arrested six suspects in Ahmedabad tied to a Rs 100 crore Bitcoin fraud and a parallel e-commerce product swapping ring. Investigators say more than one hundred investors were lured with promises of fourfold returns through crypto mining schemes. The crackdown comes as online scams cost Indians Rs 22,495 crore in 2025, underscoring fraud risks linked to criminals misusing digital assets rather than weaknesses in Bitcoin…

Major cybercrime crackdown exposes devastating Rs 100 crore Bitcoin fraud operation in India

Ahmedabad’s Crime Branch has arrested six people across two separate cybercrime investigations this month, one linked to a cryptocurrency fraud worth nearly Rs 100 crore (or about $11 million), and another involving a gang that swapped out real products from online deliveries with fakes. The consecutive busts coincide with alarming national cyber fraud statistics. Online frauds cost Indians Rs22,495 crore ($2.48 billion) in 2025 alone, and the N…

Rs 100 Crore Crypto Fraud: Fugitive Held in Ahmedabad After Two-Year Hunt

The Ahmedabad City Crime Branch has arrested a fugitive, Sujit Shankarrao Dev, who had been evading law enforcement for two years in connection with an alleged cryptocurrency investment fraud exceeding Rs 100 crore. The arrest occurred near Ahmedabad Airport, marking a significant breakthrough in the case. Dev is a resident of Naroda in Ahmedabad and was wanted by the Dahisar Police Station in Mumbai, facing charges under various sections of the…