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Court orders return of ₹15 crore to Tenali woman after crypto fraud bust
Reported by Shreya Kapoor (Senior Writer) · The Hindu - National ·
Photo: Wikimedia CommonsCourt orders return of nearly ₹15 crore to a Tenali woman after a transnational cryptocurrency fraud was uncovered. The Sixth Additional Junior Civil Judge‑cum‑Special Court for CID cases in Guntur directed the private firm Gate Global Corporation to hand back the assets. Police say the woman was lured over six to seven months with promises of high returns and moved the money in several installments totalling ₹15 crore. The A.P. CID traced the funds through wallets named Robinhood and Onchain, then through mule accounts before they reached Gate Global Corporation’s accounts. Four accused were arrested in Hyderabad and Maharashtra, while a Look‑Out Circular has been issued for four others identified as Chinese, Portuguese and Malaysian nationals. CID Inspector D. Kasi Viswanadh confirmed that the court‑ordered conversion and transfer to the victim’s account will happen shortly. The investigation used detailed blockchain analysis and cooperation between the Indian Cyber Crime Coordination Centre, the Ministry of Home Affairs and the Ministry of Electronics and Information Technology, under the supervision of CID Director General Ravi Shankar Ayyanar. The case highlights the reach of organised cyber‑crime groups that operate across borders and use crypto platforms to hide money.
Context
Crypto‑related scams have risen in India as digital assets become more popular, prompting law‑enforcement agencies to develop specialised cyber units and international links to trace illicit flows.
ExplainerWhy this matters
What Happened
A woman from Tenali was convinced to invest in cryptocurrency platforms promising high returns. Over six to seven months she transferred money in several installments, totaling about ₹15 crore, to wallets that later moved through mule accounts and ended up in the accounts of Gate Global Corporation, a crypto‑based firm.
Why It Matters
The case shows how organised crime groups can use the anonymity of crypto wallets to move large sums across borders, making it hard for authorities to track. It also demonstrates the growing need for specialised cyber‑crime units in India and for international cooperation, as some of the alleged perpetrators are nationals of China, Portugal and Malaysia.
What Happens Next
The court has ordered the conversion of the seized crypto and its transfer back to the victim. Law‑enforcement agencies will continue to pursue the four accused with Look‑Out Circulars and aim to arrest the remaining suspects abroad. Ongoing monitoring of crypto transactions is expected to tighten as authorities refine tracking methods.
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Photo: Wikimedia CommonsGeneralExplainerSource: The HinduWorth knowing
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