India’s Enforcement Directorate says a cyber‑fraud ring that impersonated central investigators to extort about ₹7 crore has been dismantled after a New Year’s‑Eve raid. Officials arrested a suspect, recovered cash and digital evidence, and identified over 200 mule bank accounts and USDT crypto transfers.

The Enforcement Directorate carried out raids in Kanpur culminating in arrests and the dismantling of a cyber‑fraud operation prosecutors say impersonated central investigation officials to extort victims of roughly ₹7 crore. Investigators recovered significant cash, multiple devices and digital forensic evidence that linked over 200 identified mule bank accounts to transactions routed into USDT stablecoin. Authorities say the ring operated sophisticated social engineering campaigns, used fake call identities to pose as investigators and coerced transfers into layered banking and cryptocurrency channels to obscure provenance. The probe has opened tracing of laundered proceeds and possible overseas links where crypto conversion or layering occurred. Law enforcement continues to analyze seized devices to map hierarchies, identify account operators and determine the scope of recruitment for mule accounts. Officials emphasized coordination with banks and crypto platforms to freeze suspect funds and urged the public to independently verify any official contact and report extortion attempts promptly.