Crypto racket probe unearths Rs 170cr trades in names of farmers, delivery boy
Hyderabad: The income tax department’s foreign investigation unit in Hyderabad has recently uncovered a shocking trail of cryptocurrency trades that appear to have been carried out using the identities of unsuspecting ordinary citizens.
Acting on a Central Board of Direct Taxes (CBDT) report flagging 20 suspicious cases, officials began visiting remote villages across Telangana and Andhra Pradesh to verify the transactions. So far, the investigation has verified nine cases, with total crypto trades amounting to Rs 170 crore.
