ED arrests Dubai-based Indian national in cross-border crypto-hawala, narcotics money laundering case

NEW DELHI: The Enforcement Directorate (ED) has arrested a Dubai-based Indian national in connection with an alleged cross-border crypto-hawala network used to launder narcotics money for international drug cartels, the agency said on Thursday.

The accused, identified as Nihal VN, was produced before a Special PMLA Court in Goa, which remanded him to ED custody for seven days till July 28.

According to the ED, Nihal VN acted as a key financial conduit for drug syndicates operating across multiple continents. The agency alleged that he converted cash proceeds from narcotics sales in India into cryptocurrencies and foreign exchange.