Move over, Sherlock Holmes, because Binance and the Ahmedabad Cyber Crime Branch just solved a major cross-border crypto scam worth over $200,000 (₹1.75 crore)! 🕵️♂️🔍
The Rise of “Digital Arrest” Scams: A Cautionary Tale 🚨
In a world where scammers are getting smarter, one case involved a 90-year-old man from Gujarat who lost ₹1.25 crore after being falsely told he was in legal trouble. In another case, a young jobseeker was lured to Nepal with a fake job offer and forced to move ₹49 lakh through crypto wallets. 😱
Scammers are getting smarter — but so are the tools to stop them. 🕵️♂️
Criminals tried to launder stolen funds through crypto — but the blockchain left a trail.
Binance supported Ahmedabad Police in dismantling a $200K cross-border scam, helping investigators trace…
— Binance (@binance) June 27, 2025
Binance Tracks the Trail: A Crypto-Sleuthing Success Story 🔍
With the help of Binance and its Financial Intelligence Unit, police used blockchain tracking to trace the money and catch those involved. They tracked wallet activity, spotted suspicious transactions, and helped police make arrests. 🕵️♂️🔍
A senior officer from Ahmedabad Cyber Crime highlighted that the case shows how advanced cyber scams are becoming and why global cooperation is important. 🌐
In a case similar to the 90-year-old Gujarat victim, another man in Ahmedabad was arrested for helping run a ₹22 lakh digital arrest scam. He facilitated the fraud by ‘renting out’ his bank account to move stolen funds, which made it harder to trace the money. 🏦💰
This tactic of “renting” bank accounts is common in such scams and helps criminals hide their tracks. As these frauds often cross borders and move money quickly, fast action and strong coordination between police and crypto platforms are key to stopping them. 🚨
In these digital arrest scams, fraudsters often pose as police or government officials to scare victims into sending money. The funds are often moved through crypto wallets or fake bank accounts to hide their source. This is a growing trend and serves as a reminder to stay alert in the hyper-connected world. 🚨
Every Crypto Move Leaves a Trace: Blockchain to the Rescue! 🔍
A regional lead at Binance South Asia official noted that every crypto transaction leaves a trace. He adds that this case proves as an example that when used the right way, blockchain can actually help fight crime. The investigation is still ongoing and more arrests are expected as authorities uncover more of the global scam network. 🕵️♂️🔍
Binance’s FIU works closely with law enforcement by analyzing suspicious transactions and sharing quick, useful insights. In 2024 alone, Binance responded to over 65,000 law enforcement requests around the world. 🚔📝
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2025-07-08 13:53