Major Cyber Fraud Ring Busted in Gujarat: Rs 104-Crore Scheme Involving Digital Arrests and Cryptocurrency Laundering

Dec 11, 2025 01:26 am CST

A sophisticated cyber fraud operation worth Rs 104 crore was dismantled in Gujarat as the Enforcement Directorate filed charges against five individuals. The scam involved fake investment advisories, impersonation of government officials, and "digital arrest" schemes, with proceeds laundered through multiple bank accounts and ultimately converted to cryptocurrency. While four suspects have been arrested, the alleged mastermind remains at large after fleeing to an Arab country.