Surat Man Held In Rs. 10 Crore Crypto Case
- Police arrest accused for aiding cyber gang’s fund transfer to Pakistan
- CID-Crime tracks cryptocurrency chain leading to foreign wallets
A man from Surat, Gujarat, has been arrested for helping a cybercrime gang transfer Rs 10 crore to a Pakistan-based cryptocurrency wallet. Officials said the accused, identified as Chetan Gangani, was detained as part of an investigation into mule bank accounts used by scamsters to launder cyber fraud money. The Gujarat Police CID-Crime’s Cyber Centre of Excellence announced the arrest in a release issued on Saturday.
According to the release, Gangani was linked to six individuals arrested earlier on November 3 from Morbi, Surendranagar, Surat, and Amreli districts. Those individuals had allegedly routed Rs 200 crore to cybercriminals operating from Dubai through nearly 100 mule accounts. The statement added that Gangani assisted the network by converting Rs 10 crore into cryptocurrency USDT, known as Tether, and transferring it to a Pakistan-based wallet using his BitGet crypto account over four months.
Police said Gangani earned a commission of 0.10 percent on each USDT transaction, though they did not disclose the total value of his earnings. Investigators explained that a mule account is one used by criminals to move or disguise illicit funds, sometimes without the account holder’s awareness. The six individuals previously arrested had reportedly provided 100 such bank accounts, which were used in 386 criminal cases across India. These included task frauds, investment scams, loan frauds, and fake job schemes.
Gujarat Deputy Chief Minister Harsh Sanghavi, who oversees the state’s home department, confirmed the operation’s success. “In a major breakthrough, the Gujarat Cyber Crime Center of Excellence has dismantled a large-scale ‘Mule Account’ network operating across multiple districts Morbi, Surendranagar, Surat, and Savarkundla with direct financial links traced to Pakistan,” he posted on X. Sanghavi added that cyber sleuths “meticulously tracked the money trail” through seven financial layers, tracing Rs 10 crore sent to a Pakistani Binance USDT account. That wallet, he said, has received over Rs 25 crore from Indian sources, making it a key channel in this cross-border cybercrime network.
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