Overview
- The CBI arrested operator Shaurya Sunilkumar Singh, middleman Yash Thakur and mule account holder Sudhir Bhaskar Palande on charges of siphoning ₹3.81 crore through a complex layering scheme.
- A special CBI court denied bail to Singh, noting the investigation’s early stage and the fact that the prime architect of the fraud remains at large.
- Search operations in Mumbai and Nagpur recovered mobile phones, iPads, bank account opening forms, KYC documents and detailed digital transaction records.
- Officials uncovered breaches of RBI KYC and due diligence norms by banking insiders and middlemen, along with use of Binance, CoinDCX and KuCoin wallets for commission payments.
- The CBI is now tracing complicit bankers, mapping transfers across more than 100 mule accounts and following cryptocurrency flows as part of a broader cybercrime crackdown.