Cyber Crime
MHA Intensifies Crypto Tracking Amid Surge in Cybercrime Investigations
New Delhi: In a bid to strengthen cybercrime investigations, the Union Ministry of Home Affairs (MHA) has ramped up efforts to track rising cryptocurrency transactions, particularly since 2020. Analysis of data by investigative agencies has revealed that digital currencies are increasingly being exploited by criminals for money laundering and illicit fund transfers, sources said on Sunday.
To counter this trend, the government has ordered random forensic analysis of virtual wallets and crypto transactions. The findings indicate a significant surge in crypto-related financial crimes, making them a key focus area for tracking fraud, money laundering, and ransomware payments. According to data from the National Cyber Forensic Laboratory, crypto-related forensic cases have seen a staggering rise—from approximately 10 cases in 2020 to over 290 cases in 2024, marking an increase of over 2,500%. “For investigative agencies and cyber forensic experts, this sharp rise has become a major concern. Plans are being devised to monitor such transactions and prevent criminals from using digital currencies to conceal illegal wealth,” a senior official said.
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The growing number of crypto wallets and currencies has also prompted authorities to widen their focus on financial crimes linked to digital assets, aligning with evolving international regulations. Investigations have revealed that fraudsters often use the same cryptocurrency investment platforms, which have now come under the scrutiny of law enforcement agencies.
In several cases, when agencies approached platform operators for transaction details worth crores, they refused to cooperate, a source said. Between 2019 and 2024, the National Cyber Forensic Laboratory examined around 11,000 digital devices, including mobile phones, memory cards, malware samples, and hard drives. Data suggests that forensic analysis of 11,203 devices—including mobile forensics, memory forensics, malware forensics, video/image enhancement, and audio forensics—has significantly aided cybercrime investigations.
Cyber experts emphasize the importance of analyzing hard drives, laptop CPUs, memory cards, and encrypted data to recover erased or concealed information.
Investigations in this domain have surged from 80 cases in 2019 to 690 in 2024, with laptop/CPU forensic analysis alone accounting for 588 cases. With the rapid expansion of cryptocurrency-related crimes, authorities are intensifying surveillance and forensic capabilities to counter emerging threats in the digital finance space.