Indian authorities have arrested Chetan Gangani, a Surat resident, for his involvement in a cryptocurrency money laundering scheme that transferred approximately ₹10 crore (around $1.1 million) to a Pakistan-based digital wallet over a four-month period. Gangani used his BitGet crypto account to convert Indian funds into USDT tokens before forwarding them abroad, receiving a 0.10 percent commission on each transaction.
This arrest is linked to a larger network where six other individuals were apprehended on November 3 from districts including Morbi, Surendranagar, Surat, and Amreli. They allegedly routed about ₹200 crore through nearly 100 mule accounts connected to 386 cybercrime cases across India, involving investment, job, and loan frauds. The funds were ultimately sent to cybercriminals based in Dubai and Pakistan.
The Gujarat CID-Crime Cyber Centre of Excellence, under Deputy Chief Minister Harsh Sanghavi, traced the money through seven transaction layers from Indian bank accounts to cryptocurrency transfers. Investigators revealed that the targeted Pakistan-based wallet has received over ₹25 crore from Indian accounts, with Gangani's activities contributing ₹10 crore. The ongoing probe aims to identify additional suspects and trace more overseas wallets involved in the cross-border cybercrime operations.
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