Binance Assists Ahmedabad Police In Cracking $200K Cross-Border Scam
The post Binance Assists Ahmedabad Police In Cracking $200K Cross-Border Scam appeared on BitcoinEthereumNews.com. Collaboration between Binance and Indian law enforcement highlights how blockchain transparency is aiding the fight against cybercrime in South and Southeast Asia Ahmedabad, India – July 08, 2025: In a coordinated cross-border operation, global blockchain platform Binance has assisted the Ahmedabad Cyber Crime Branch in tracking and disrupting a sophisticated scam network that exploited victims across South and Southeast Asia. The scam, which was part of a growing trend of “digital arrest” frauds, included impersonating law enforcement personnel in order to extort funds using crypto. One of the most alarming cases involved a 90-year-old man in Gujarat who lost ₹1.25 crore (approx. USD 149,700) after being coerced into transferring funds under fabricated legal charges. In a parallel case, a young jobseeker from India was lured to Nepal under false pretenses, held against his will, and forced to launder nearly ₹49 lakh (approx. USD 58,680). These cases highlight a growing pattern and trend of cybercriminals attempting to use digital assets to transfer illicit funds across borders. However, due to the inherent transparency of blockchain technology, investigators, assisted by Binance’s Financial Intelligence Unit (FIU), were able to monitor wallet activity, flag suspicious transactions, and assist with arrests. “This case highlights the growing sophistication of cyber scams and the need for cross-border cooperation. With timely support from Binance’s FIU team, we were able to trace the crypto trail, identify key suspects, and move quickly on arrests. Our goal is to dismantle this criminal network at its roots and to protect not just the known victims, but also the many others who may be targeted next. We hope to continue working with partners like Binance, whose support is crucial in staying one step ahead of these evolving threats.” said Senior Investigator, Cyber Crime Branch, Ahmedabad City Police Binance’s FIU team responded swiftly to law…
The post Binance Assists Ahmedabad Police In Cracking $200K Cross-Border Scam appeared on BitcoinEthereumNews.com.
Collaboration between Binance and Indian law enforcement highlights how blockchain transparency is aiding the fight against cybercrime in South and Southeast Asia Ahmedabad, India – July 08, 2025: In a coordinated cross-border operation, global blockchain platform Binance has assisted the Ahmedabad Cyber Crime Branch in tracking and disrupting a sophisticated scam network that exploited victims across South and Southeast Asia. The scam, which was part of a growing trend of “digital arrest” frauds, included impersonating law enforcement personnel in order to extort funds using crypto. One of the most alarming cases involved a 90-year-old man in Gujarat who lost ₹1.25 crore (approx. USD 149,700) after being coerced into transferring funds under fabricated legal charges. In a parallel case, a young jobseeker from India was lured to Nepal under false pretenses, held against his will, and forced to launder nearly ₹49 lakh (approx. USD 58,680). These cases highlight a growing pattern and trend of cybercriminals attempting to use digital assets to transfer illicit funds across borders. However, due to the inherent transparency of blockchain technology, investigators, assisted by Binance’s Financial Intelligence Unit (FIU), were able to monitor wallet activity, flag suspicious transactions, and assist with arrests. “This case highlights the growing sophistication of cyber scams and the need for cross-border cooperation. With timely support from Binance’s FIU team, we were able to trace the crypto trail, identify key suspects, and move quickly on arrests. Our goal is to dismantle this criminal network at its roots and to protect not just the known victims, but also the many others who may be targeted next. We hope to continue working with partners like Binance, whose support is crucial in staying one step ahead of these evolving threats.” said Senior Investigator, Cyber Crime Branch, Ahmedabad City Police Binance’s FIU team responded swiftly to law…
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