Binance assisted Gujarat CID Crime’s Cyber Centre of Excellence in Gandhinagar with an ongoing investigation into suspected cyber-enabled fraud. Investigators reported tracing approximately ₹226.54 crore, or $23.96 million, in alleged illegal crypto transactions, with blockchain analysis helping follow funds across wallets and services.
Authorities have reported 14 arrests after more than four months of field operations and technical review. The investigation linked suspect-connected bank accounts to hundreds of complaints filed through India’s National Cyber Crime Reporting Portal and examined international leads involving suspected narcotics activity and online coordination, placing cross-border fund flows inside a wider cybercrime investigation.
Binance said it responded to lawful requests by supporting transaction retracing, providing blockchain analysis and restricting certain relevant accounts where appropriate. The investigation remains ongoing, so the next test is whether on-chain evidence can support additional arrests and asset-recovery measures as authorities pursue leads across India and other jurisdictions.
Source: Binance.
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