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ED Busts Massive Cybercrime Syndicate: 15,000 Mule Accounts, Crypto Transactions, and CA Links Exposed!

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The Enforcement Directorate’s (ED) High Intensity Unit (HIU) is cracking down on a massive money laundering scheme tied to organized cybercrimes, including phishing, QR code scams, fraudulent part-time job offers, and fake call centers.

Thousands of complaints reported to the Indian Cyber Crime Coordination Centre (i4C) were meticulously analyzed in collaboration with the Financial Intelligence Unit (FIU-IND), exposing a complex web of financial misconduct.

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Investigations have unveiled a network of chartered accountants (CAs) and cryptocurrency traders orchestrating the illicit operations. The scheme reportedly involved nearly 15,000 mule bank accounts to layer and funnel the proceeds of cybercrimes.

These accounts were connected to debit and credit cards, which were then used to fund virtual wallets on Pyypl, a mobile payment and cryptocurrency platform. The funds were subsequently converted into cryptocurrencies, further complicating their traceability.

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In a significant crackdown, ED officials launched coordinated raids across multiple locations. During a search in Brijwasan, Delhi, suspect CA Ashok Sharma and his brother attacked an ED officer and managed to flee after inflicting injuries. The ED has confirmed that a First Information Report (FIR) has been filed, and a manhunt is underway.

The raids led to the seizure of incriminating materials, pointing to a highly organized syndicate that exploited digital payment systems and virtual currencies to launder illicit funds. The ongoing investigation is expected to reveal more about the intricate operations of this cybercrime network.

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