ED Seizes Rs. 3 Crore, Tracks Crypto Wallets, Offshore Accounts in Global Drug Money Probe
The Enforcement Directorate (ED) has arrested Dubai based Indian national Nihal V.N. for allegedly operating a crypto hawala network that helped international drug syndicates move illicit money across borders. Officials produced him before a Special PMLA Court in Goa, which granted the agency seven days of custody until July 28 for further investigation.
Investigators alleged that Nihal worked as a major financial link for narcotics groups active across several countries. The agency claimed he converted cash generated from drug sales in India into cryptocurrency and foreign currency before routing the funds through multiple channels.
Authorities believe the money eventually reached suppliers in Brazil and Thailand to finance high grade narcotics and synthetic drugs destined for the Indian market.
ED uncovers crypto laundering network
The ongoing PMLA investigation has uncovered several crypto wallets, offshore bank accounts, and domestic shell entities that allegedly supported the laundering network. Earlier searches across Goa, Maharashtra, Kerala, Tamil Nadu, Karnataka, Odisha, Delhi, and other locations led investigators to seize nearly Rs. 3 crore in cash, along with financial records and digital devices that could strengthen the case.
The case originated from a Goa Police Anti Narcotics Cell FIR, filed under the NDPS Act, after investigators exposed an interstate drug trafficking network. Officials alleged the syndicate supplied narcotics on a business to business basis across Goa, Himachal Pradesh, Maharashtra, Karnataka, Tamil Nadu, Odisha, and Kerala.
The ED had already arrested the main accused, Madhupan S.S., in January, and he remains in judicial custody.
Probe shifts to cross-border money trail
Officials said the investigation now focuses on dismantling the financial backbone of international drug syndicates instead of targeting only traffickers. Digital forensic teams continue tracing hidden assets, identifying beneficiaries, and examining cross border money flows that relied on crypto hawala channels to conceal illegal proceeds.
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