Whalesbook
A national investigation reveals that India's cryptocurrency exchanges are being exploited by cyber-fraud networks for massive money laundering, moving hundreds of crores through mule accounts and anonymous wallets. Funds trace from India to international hubs and even terror groups. This exploitation thrives due to a legal vacuum, where crypto assets lack clear definitions, leading to high user taxes but no guaranteed recourse against hacks or platform failures. Experts urge clear legislation for supervision and risk containment.