CBI cracks down cyber fraud syndicate; Rs 2.8 crore in crypto seized, 1 arrested

The Central Bureau of Investigation (CBI) has unearthed a transnational cyber fraud syndicate operating from India, targeting individuals in the United States and Canada by impersonating government officials and tech support representatives.

The agency sleuths arrested one person and seized virtual digital assets (VDAs) worth Rs 2.8 crore along with Rs 22 lakh in unaccounted cash during raids at three locations. The arrested accused is being produced before Special CBI Court.

According to a senior CBI official, the agency recovered a treasure trove of digital and physical evidence during the raids, including sophisticated tools used for making international calls with masked identities, social engineering-based lead generation mechanisms, voice recordings, and other components integral to the cybercrime ecosystem.

This marks a growing trend in cybercriminals converting illicit earnings into crypto assets to evade traditional banking scrutiny.

“The CBI has developed in-house capabilities for identifying, seizing, and managing VDAs as part of its tech-driven approach to fighting cybercrime,” the official said.

He said that the agency has put systems in place to handle such digital assets in compliance with prevailing legal provisions.

According to the officer, the cybercriminals reportedly exploited unsuspecting victims by impersonating officials from reputed institutions and tech firms, coercing them into transferring money or providing access to sensitive information.

CBI’s ‘Chakra-V’ operation — launched to dismantle organised cybercrime networks — has so far led to several arrests and the detection of widespread cyber fraud schemes with international ramifications. Officials said the current investigation is ongoing and further arrests and seizures may follow.