Gujarat Cyber Cell Busts ₹226 Crore Crypto Network Linked to Terror Financing
The Gujarat Cyber Centre of Excellence has dismantled a ₹226 crore cryptocurrency syndicate allegedly funneling funds to international groups, including Hamas and the Houthis. Gujarat Cyber Cell Busts Rs-226 The Gujarat Cyber Centre of Excellence has dismantled a massive international financial syndicate operating a Rs 226 crore cryptocurrency network.
The Gujarat Cyber Centre of Excellence has dismantled a sophisticated financial network accused of using cryptocurrency to bypass banking oversight. Investigators tracked the movement of ₹226 crore in digital assets, which were converted into tokens and routed to international wallets. Intelligence gathered points to these funds being diverted to support Hamas and Houthi militant operations.
This case exposes the persistent vulnerabilities in decentralized finance, even as India mandates FIU registration and enforces strict taxation on virtual assets. The anonymity inherent in peer-to-peer transfers continues to challenge traditional anti-money laundering frameworks. Given the confirmed terror-financing links, the investigation is expected to expand, likely involving the Enforcement Directorate (ED) and the National Investigation Agency (NIA).
- Total Volume: ₹226 crore
- Primary Agency: Gujarat Cyber Centre of Excellence
- Suspected Beneficiaries: Hamas, Houthis
- Primary Method: Cross-border crypto-asset conversion
Glossary
Cryptocurrency: A digital or virtual currency secured by cryptography, operating on decentralized blockchain networks.
Terror Financing: The provision of financial support, through any means, to individual terrorists or non-state actors.
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