India Arrests Dubai Man in Global Crypto-Hawala Crackdown
ED arrests Dubai resident in crypto-hawala probe tied to narcotics money laundering across India, Brazil and Thailand.
India’s Enforcement Directorate has arrested a Dubai resident in a sweeping crypto-hawala crackdown.
Nihal V.N. now faces charges under the Prevention of Money Laundering Act, 2002. Investigators allege he laundered drug proceeds through crypto and foreign exchange transfers.
The Goa Zonal Office carried out the arrest as part of a wider narcotics money laundering probe. A Special PMLA Court in Goa has remanded him to ED custody until July 28, 2026.
Crypto Wallets Linked to International Drug Cartels
According to a press release, the ED says Nihal V.N. worked as a key financial node for international drug syndicates. He allegedly converted cash from illicit drug sales in India into cryptocurrency and forex.
Investigators claim the funds then moved to cartels and suppliers in Brazil and Thailand. Those networks reportedly used the money to finance high-grade narcotics and synthetic drugs for smuggling into India.
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