India Enforcement Directorate probes 30.3 billion-rupee fraud ring, freezes crypto

India’s Enforcement Directorate is widening its scrutiny of crypto-linked cyber fraud after a separate probe centered in Tamil Nadu led to the seizure of about 335 million rupees in cryptocurrency, 145,000 rupees in cash and the freezing of bank accounts holding more than 400,000 rupees. The Chennai zonal office searched 19 locations across Tamil Nadu, Kerala and Srinagar on July 10 and 11 under the Prevention of Money Laundering Act in an investigation tied to online investment fraud and work-from-home scams. The operation covered 16 sites in Tamil Nadu, two in Kerala and one in Srinagar, and also yielded documents, electronic devices and bank records. The development adds to a broader July enforcement push that also includes the ED’s 30.3 billion-rupee fraud case with a Dubai crypto trail, a 3,500-page charge sheet in the Sriki laundering case, and a Surat arrest tied to 247.2 million rupees in fraud complaints.