Security· ★★· bearish·

India uncovers three crypto scam networks moving funds through mule accounts and USDT

  • —A Nepali national was detained in Lucknow with a forged passport over a NPR 37.64 crore crypto racket
  • —An Ahmedabad land broker lost ₹90.2 lakh to a fake trading platform run via a Facebook profile
  • —Delhi police arrested seven men from Rajasthan over ₹3.93 crore drained from an ICICI Bank account in 149 transactions
  • —Proceeds moved through mule accounts and cash, with some converted to USDT via hawala
Why it matters: The cases show how fiat transfers and mule accounts are converted into USDT for cross-border laundering, adding pressure on stablecoin regulation.
#USDT
Source: Cryptonews.net
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