Gujarat Police Busts Cybercrime Network
Analysis based on 6 articles · First reported May 23, 2026 · Last updated May 23, 2026
The bust of this cybercrime network by India — Gujarat>>> police is a positive development for financial markets, as it reduces the risk of online financial fraud and protects investors. However, the widespread nature of the fraud across India>>> indicates ongoing vulnerabilities that could impact consumer confidence and financial stability.
The India — Gujarat>>> police, through its Cyber Centre of Excellence (CCE) and 'Operation Mule Hunt 2.0', successfully dismantled a major cybercrime network. This operation led to the arrest of 13 individuals across various cities in India — Gujarat>>>. The network was involved in 982 cybercrime cases reported nationwide, resulting in victims losing over Rs 631.86 crore. The accused utilized leaked databases, social engineering techniques, and mule bank accounts opened under various firms like Saurath Overseas>>>, SNB Aqua Shipping Private Limited>>>, Zeppelin Overseas Shipping Private Limited>>>, and DKG Creation and Technologies Gujarat>>> to commit online financial fraud, internet banking fraud, UPI scams, investment fraud, and deposit fraud. Key individuals like Madhavji Kotadiya>>> and Vimal Jada>>> were identified for their roles in obtaining customer IDs, OTPs, and unauthorized access to bank accounts. The investigation, aided by the India — National Cybercrime Reporting Portal>>> (NCCRP), revealed the multi-state reach of the fraud, with numerous complaints registered across India>>>.
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