Gujarat’s Cyber Centre of Excellence has arrested Ghulamali Qureshi, a 25-year-old from Ahmedabad, suspected of facilitating illegal cryptocurrency transactions in a sprawling international racket. The network allegedly involved over Rs 226 crore in deals connected to terror financing, narcotics trafficking on the dark web, money laundering, and cyber fraud.
This arrest follows earlier detentions of nine individuals as part of a thorough probe led by multiple specialized teams. Investigators utilized blockchain tracking to follow digital transactions to a notorious dark web marketplace named ARTEMISLAB.CC. Funds funneled through the platform were reportedly linked to wallets managed within Gujarat, including one associated with another accused, Mohsin Molani.
Further inquiry revealed the syndicate’s use of Monero, a privacy-focused cryptocurrency known for obscuring transactions, to disguise transfers amounting to nearly Rs 2 crore. Financial links traced from Molani’s wallet connected to nine other Indian users, suggesting a wide domestic network.
Authorities signaled ties between the group and internationally sanctioned entities. They identified Dubai-based Mohammad Zuber Popatiya’s wallet, previously flagged by Israel’s counter-terror financing agency, as engaging in transactions with a Dubai-based exchange linked to Hamas. Moreover, some wallets received funds from parties blacklisted by the US Office of Foreign Assets Control, including Yemen’s Ansar Allah (Houthis), Iran’s IRGC-Quds Force, Russian exchange Garantex, and connections to the Ilan Shor network.
The accused allegedly cycled illicit cryptocurrency through various wallets, converting it into the stablecoin USDT before dispersing it through multiple channels to support terror and criminal operations globally. The syndicate’s operations reportedly extended to drug trafficking markets in Britain, with Mohsin Molani confessing to coordinating drug orders via Telegram and other online platforms, then relaying them to Popatiya for international supply.