$200K cross-border crypto scam busted: Binance aids Ahmedabad Police in major crackdown

A major cross-border crypto scam involving over $200,000 (approximately Rs 1.75 crore) has been uncovered by the Ahmedabad Cyber Crime Branch with the assistance of global blockchain platform Binance. The scam, part of a rising wave of “digital arrest” frauds, spanned multiple countries in South and Southeast Asia and targeted vulnerable individuals using fake legal threats and crypto laundering tactics.

One of the most shocking cases involved a 90-year-old man from Gujarat who was manipulated into transferring Rs 1.25 crore after being falsely accused of legal violations.

In another incident, a young Indian jobseeker was lured to Nepal under the guise of employment, held captive, and forced to launder nearly Rs 49 lakh through cryptocurrency wallets.

Investigators were able to crack the network by leveraging the transparency of blockchain technology. Binance’s Financial Intelligence Unit (FIU) worked closely with law enforcement, tracking suspicious wallet activity, identifying laundering routes, and providing actionable intelligence that led to the arrest of suspects involved in both cases.“This case highlights the growing sophistication of cyber scams and the need for cross-border cooperation,” said a senior investigator from the Ahmedabad Cyber Crime Branch. “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 protect other potential victims.”

The so-called “digital arrest” scams involve criminals impersonating police or government officials to intimidate victims into transferring money. In many cases, funds are routed through crypto wallets or rented bank accounts to obscure their origin.Binance’s regional operations team emphasized that blockchain’s traceability played a key role in tracking the illicit funds.“Every blockchain transaction leaves a visible, verifiable trail,” said Kushal Manupati, Regional Growth & Operations Lead, South Asia at Binance. “This case is a strong example of how crypto, when used responsibly, can help fight financial crime. Binance is committed to supporting investigations that protect users and uphold the integrity of the ecosystem.”

The crypto platform said it remains focused on working with global and local agencies to curb misuse of digital assets. Investigations in this case are ongoing, with more arrests expected as authorities dig deeper into the international network behind the scam.

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