Investigators Recover $12,000 in Crypto, Rs. 13.5 Lakh Cash as ED Traces Bitcoin Money Trail in Hyderabad Scam
The Enforcement Directorate (ED) has arrested Vikas Kumar Nimar, also known as Misty, in a major fake call centre scam linked to Hyderabad. Officials said the group cheated many people in the United States and later moved the illegal money into Bitcoin and other cryptocurrencies.
The arrest came after fresh ED searches in Hyderabad and Ahmedabad as part of an ongoing money laundering investigation. After taking Nimar into custody, officials took him to Gandhi Hospital for a medical examination before producing him before the court.
Investigators said the fraud network operated call centres in Hyderabad and several other cities across India. The callers reportedly pretended to be US government officials or employees of well-known companies. They frightened victims by claiming they had tax issues, computer viruses, banking problems, or legal cases that needed immediate action.
Many victims believed the fake stories and made payments through Amazon gift cards or digital transfers. Officials said the gang collected crores of rupees from these fraudulent transactions over a long period.
ED Tracks Cryptocurrency and Money Trail
The ED found that the money did not stay in regular bank accounts. Instead, the accused allegedly converted the funds into Bitcoin and other cryptocurrencies to make tracking more difficult. Investigators also believe shell companies, including VC Solutions, helped show the illegal money as legal business income.
During searches in Ahmedabad, officials recovered cryptocurrency worth nearly $12,000, Rs. 13.5 lakh in cash, several important documents, and digital devices from another accused, Aakib Ghulam Rasool Ghanchi. The agency believes these materials will help uncover more financial transactions and identify others connected to the scam.
The case began with a 2023 FIR filed by Madhapur Police. The Central Bureau of Investigation later joined the probe after receiving information through Interpol.
The ED is now tracing more cryptocurrency transactions and searching for other people involved in the Hyderabad call centre scam while checking possible international links.
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