Ahmedabad/Gandhinagar, May 24 (IANS) Gujarat CID Crime’s Cyber Centre of Excellence has arrested another accused in an alleged international cryptocurrency syndicate involving more than Rs 226 crore in transactions linked to terror financing, dark web narcotics trade, money laundering and cyber fraud, officials said on Sunday.
The accused has been identified as Ghulamali Qureshi (25), a resident of Mirzapur in Ahmedabad, who allegedly operated illegal cryptocurrency transactions and converted “dirty crypto” into USDT through peer-to-peer platforms and mule bank accounts.
The arrest follows an extensive investigation by the department, which had earlier led to the arrest of nine accused in the case.
Officials said separate teams were formed under the supervision of Superintendent of Police Dr Rajdeepsinh Jhala, Sanjay Keshwala and Vivek Bheda.
Investigators used blockchain analysis to trace cryptocurrency transactions linked to the illegal online narcotics marketplace “ARTEMISLAB.CC”.
The probe allegedly found that funds from the platform had been transferred into cryptocurrency wallets operated from Gujarat, including one belonging to Mohsin Molani.
Further analysis of Molani’s wallet reportedly revealed financial transactions with wallets belonging to nine other users in India.
Investigators alleged that the group extensively used Monero, an anonymous cryptocurrency often associated with dark web activities, terror financing and drug trafficking, to conceal transactions worth nearly Rs 2 crore.
Police claimed the investigation uncovered links between the accused and entities sanctioned by international agencies.
According to the department, the wallet of Dubai-based accused Mohammad Zuber Popatiya had been identified in 2025 by Israel’s National Bureau for Counter Terror Financing (NBCTF) and allegedly had direct transactions with “Dubai Company for Exchange”, which investigators linked to Hamas.
Officials further stated that wallets connected to the network received funds from entities sanctioned by the United States Office of Foreign Assets Control (OFAC), including Yemen-based group Ansar Allah, also known as the Houthis, Iran’s IRGC-QF, Russia-based crypto exchange Garantex and wallets associated with the Ilan Shor network.
Investigators alleged that the accused transferred funds between multiple wallets and converted cryptocurrency obtained through dark web and other illegal activities into USDT before routing the money through different channels to international criminal and terror-linked networks.
Officials also alleged that the syndicate had been involved in drug trafficking operations in Britain since 2023.
During interrogation, Mohsin Molani allegedly disclosed that he received drug orders for Britain through Telegram groups and other online platforms before forwarding the details to Popatiya in Dubai, who arranged supplies through a UK-based network.
Police said another accused, Salman Ansari, had been sentenced to six years’ imprisonment in Britain in October 2024 after being convicted of drug trafficking and money laundering cases.
Investigators claimed evidence recovered from Molani suggested that Ansari continued to operate the network from prison.
Officials described Salman Ansari and Mohammad Zuber Popatiya as the alleged masterminds of the Monero-based terror finance network.
Investigators alleged that funds were routed through hawala and angadia channels and later distributed through local operatives, including the arrested accused Ghulam Sadiq Ibadulla Ansari, who is Salman’s father.
According to officials, combined transactions across the accused persons’ accounts amounted to USD 23,962,383, with an estimated present value of Rs 226.54 crore.
Police said Qureshi had travelled to Dubai, where he learned USDT trading from a friend.
Investigators alleged that he later carried out USDT transactions worth between Rs 10 crore and Rs 15 crore using a Binance wallet ID in his father’s name and facilitated illegal funding of around Rs 42 lakh.
“Qureshi had been hiding in Rajasthan, mainly in Udaipur, for nearly one-and-a-half to two years,” officials said.
Investigators alleged that around Rs 43 lakh linked to “dirty crypto” transactions was transferred into his wallet through intermediary wallets.
Police also claimed he received funds linked to entities such as Ansar Allah, Garantex and Ilan Shor through layered transactions.
According to investigators, Qureshi converted cryptocurrency into cash using peer-to-peer channels and mule bank accounts.
Around 60 bank accounts connected to the transactions were frozen during the investigation.
Officials further stated that analysis of Binance-linked P2P bank accounts revealed links to 935 complaints registered on the National Cyber Crime Reporting Portal involving cyber fraud carried out using fake identities.
A case has been registered under Sections 111(2)(B), 153 and 61 of the Bharatiya Nyaya Sanhita, 2023, and Sections 66(C) and 66(D) of the Information Technology Act, 2008, for organised crime, criminal conspiracy, cyber fraud and alleged financial assistance to terrorist activities.
Police said two mobile phones were seized from the accused.
–IANS
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