CryptoCrime – MP SIT Tracks Extortion Funds Routed Through Digital Currency
CryptoCrime – The Special Investigation Team (SIT) of Madhya Pradesh Police has expanded its probe into extortion threats targeting businessmen after arresting a Haryana resident accused of helping route cryptocurrency payments linked to the Lawrence Bishnoi gang network.
The arrest marks the first time investigators have detained a suspect from Haryana in connection with a Rs 10 crore extortion threat issued earlier this year to a businessman in Ashoknagar district. Officials identified the accused as Ashish Yadav, who was taken into custody from Hansi district during a recent operation led by the SIT.
Investigators Trace Cryptocurrency Transactions
According to officials involved in the investigation, questioning of Yadav revealed details about how funds were allegedly transferred from overseas handlers to gang operatives active in Madhya Pradesh. Investigators believe Yadav acted as an intermediary who converted cryptocurrency into Indian currency before passing the money to local members connected to the criminal network.
Police sources said the funds were allegedly sent by Harry Boxer, also known as Hari Chand Jaat, who is suspected to be operating from the United States. The transfers were reportedly made using USDT, a cryptocurrency commonly used for cross-border digital transactions because of its value stability against the US dollar.
Authorities claim Yadav received the digital payments and later distributed the converted money to individuals identified as Pradip Shukla, JP Dara, and Manish Jangid, who are believed to be associated with gang activities in Madhya Pradesh.
Funds Allegedly Used for Criminal Activities
The SIT investigation has also uncovered details about how the transferred money was allegedly used on the ground. Officials suspect that amounts ranging between Rs 1.5 lakh and Rs 2 lakh were spent on activities connected to the extortion operation in Ashoknagar.
Investigators allege the money financed surveillance of the targeted businessman, intimidation attempts, firing incidents, and logistical arrangements connected to the planned extortion operation. Sources linked to the investigation said law enforcement agencies are now examining the involvement of additional suspects believed to have assisted Yadav in handling the transactions.
Police officials indicated that two or three more individuals connected to the accused are currently under scrutiny, and further arrests may follow as the investigation progresses.
Wider Network Under Examination
The latest arrest has prompted investigators to examine whether similar methods were used in other extortion cases reported across Madhya Pradesh. The SIT is currently probing comparable threats issued to businessmen in cities including Indore, Bhopal, and Khargone.
Officials suspect the gang may have adopted a structured financial system using cryptocurrency channels to move money quickly and discreetly between overseas handlers and local operatives. Investigators are now studying digital transaction records and communication patterns to determine whether the same network operated across multiple cases.
A senior source connected to the probe said investigators are focusing on identifying recurring financial patterns that may connect several extortion incidents under one coordinated criminal framework.
SIT Expands Multi-State Investigation
The arrest of Ashish Yadav came shortly after the detention of another alleged gang operative, Durgesh Soni, from Rajasthan’s Bikaner district. With the latest action, the total number of arrests made by the SIT in multiple extortion-related cases has reached 29.
Officials confirmed that those arrested so far belong to different states, including Madhya Pradesh, Uttar Pradesh, Rajasthan, and Haryana. Investigators believe the network functioned through a combination of local criminal associates and interstate contacts who handled logistics, communication, and financial transfers.
The ongoing probe highlights growing concerns among law enforcement agencies regarding the use of cryptocurrency in organized crime operations. Authorities are continuing to track digital financial trails as part of efforts to dismantle the wider extortion network operating across several regions.