'Used to sell drugs through dark web', man from Uttarakhand caught by ED; Bitcoin worth Rs 130 crore seized

The Enforcement Directorate (ED) on Saturday said it has seized cryptocurrency worth over Rs 130 crore and arrested a Uttarakhand man as part of a money laundering probe linked to drugs smuggling launched at the request of US authorities. Parvinder Singh was detained from Haldwani in Nainital on April 27 after a search of the premises.

The Central Investigation Agency said that the accused used to sell drugs through the dark web. These mostly happened in European countries. The investigation was initiated based on a request received from the US authorities.

Singh DTO, an international drug trafficking ring, was purportedly operated by Parvinder Singh, his brother Banmeet Singh, and a few other individuals. By offering them for sale on dark web markets, they generated funds through cryptocurrency transactions. On websites like Hansa, Alpha Bay, and Silk Road 1, the accused had traded under the name Liston.

Bitcoins connected to Liston's name were sent to the ED; these were nothing more than the proceeds of illegal activity—drugs sold in different nations for cash. The organization claimed that bitcoins valued at thousands of crores of rupees have already been taken by US authorities.