**India Arrests Suspect Over $1.1M Crypto Laundering Scheme**
Indian authorities have apprehended a man alleged to have laundered over $1 million (Rs. 10 crore) in digital assets to a Pakistan-based digital asset wallet. The suspect, Chetan Gangani, was arrested for his involvement in a cybercrime operation that funneled illicit funds through various accounts to the digital wallet.
According to officials, this arrest is part of a broader crackdown on the use of mule bank accounts. Cybercriminals commonly use mule accounts to move criminal proceeds, utilizing multiple accounts to conceal both the origin and final destination of the funds. Typically, such laundering occurs before the funds are transferred out of the country via digital wallets or other means. In this particular case, the suspect attempted to move the funds out of India using a digital wallet.
### Indian Police Intensify Efforts Against Money Laundering
Indian police revealed that Gangani was affiliated with six other individuals who had been arrested earlier as part of an ongoing sting operation. While Gangani’s arrest was recent, the other suspects were apprehended on November 3, following coordinated raids across Morbi, Surendranagar, Surat, and Amreli districts.
The group is accused of allegedly routing Rs. 200 crore to criminals based in Dubai using over 100 mule accounts. Police allege that Gangani assisted the gang members by converting large amounts of money into different digital assets, including USDT, before transferring it to a Pakistan-based wallet.
Gangani utilized his BitGet crypto wallet to send the funds, reportedly using the application to move money for over four months. Officials noted that the Pakistan-based digital wallet receiving the funds had a balance of Rs. 29 crore, of which Rs. 10 crore originated from Gujarat.
Authorities also mentioned that Gangani received a commission of 0.10% on every transaction he facilitated for the criminal group.
The investigation remains ongoing as authorities continue efforts to dismantle the wider network involved in cross-border crypto laundering.
https://bitcoinethereumnews.com/crypto/india-arrests-suspect-over-1-1m-crypto-laundering-scheme/
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