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India has witnessed an increase in drug smuggling activities using cryptocurrencies and the darknet, according to the country’s Home Minister Amit Shah.
See related article: India financial crime unit cites ‘Chinese-controlled entities’ in alleged crypto fraud
Fast facts
- A total of 3,172 drug smuggling cases were registered from 2014 to 2022, representing for a 152% increase from 2006 to 2013, the minister said at a high-level regional meeting on Wednesday.
- Shah said in a Twitter post in Hindi that all agencies in the country should proceed with a “top to bottom, bottom to top” approach toward destroying the entire network of drug smuggling.
- Over the last few months, various Indian government agencies and state police have conducted raids and investigations into crypto-related scams.
- Authorities have traced some of the scammed funds to cryptocurrency exchanges such as WazirX and Binance.
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