CBI busts cybercrime racket: Recovers ₹2.8 crore cryptocurrencies; one arrested

As part of its ongoing crackdown on cybercrime under the ‘Chakra-V’ operation, the Central Bureau of Investigation (CBI) carried out raids at three different locations.

The CBI seized crime proceeds in the form of Virtual Digital Assets (VDAs) valued at ₹2.8 crore, along with unaccounted cash worth ₹22 lakh from the suspect’s possession.

One individual has been arrested in connection with the case and is being presented before the Special CBI Court.

Importantly, the CBI has developed in-house expertise for handling and seizing VDAs as part of its tech-driven strategy to fight cybercrime. The agency has also implemented systems to manage these digital assets in line with legal requirements and has been consistently detecting and confiscating VDAs in multiple operations, said the release.

(This is a developing story)