India’s ED Tracks Crypto Trail in International Drug Hawala Network
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India’s Enforcement Directorate arrested Dubai-based Indian national Nihal V.N. after uncovering an alleged cross-border crypto hawala network that converted narcotics proceeds into crypto and foreign currencies. The ED says funds were routed to drug suppliers in Brazil and Thailand, underscoring money laundering and security risks in crypto and signaling stronger regulatory enforcement against illicit use of crypto and cross-border DeFi/DEX channels.
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- India’s ED arrested an Indian national allegedly connected to a crypto hawala network.
- The accused converted narcotics-related money into crypto and foreign currencies.
- The move comes as part of India’s larger efforts to track the illicit use of crypto.
India’s Enforcement Directorate (ED) has uncovered an alleged crypto hawala network linked to international drug trafficking. The agency reportedly arrested a Dubai-based Indian national for using digital assets to launder money from drug trafficking.
The accused, Nihal V.N., has allegedly converted cash created through narcotics sales in India into crypto and foreign currencies, stated the ED. Later, he moved the funds overseas via a cross-border crypto-hawala network.
According to an official press release by the Indian authority, the funds were sent to drug suppliers in Brazil and Thailand. The money wa…
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