A major cybercrime investigation in Noida has uncovered two separate but potentially interconnected criminal operations involving large-scale cryptocurrency theft and an international SIM card trafficking network linked to fraud syndicates operating overseas. Authorities say both cases highlight the growing sophistication of digital financial crime networks.

Alleged Multi-Crore Crypto Theft from Corporate Wallets

In the first case, investigators are probing allegations of a major cryptocurrency theft involving a Noida-based company engaged in foreign exchange and digital asset services. The firm is reportedly linked to a joint venture known as “5ire Technology,” which was established in 2021 and claimed rapid growth in the blockchain sector.

According to the complaint, multiple digital wallets containing investor funds were collectively managed by company stakeholders. These wallets reportedly held cryptocurrencies including Bitcoin and USDT.

The complainant alleges that unauthorized transfers took place after a business meeting abroad, during which access controls were allegedly compromised. Following this incident, substantial digital assets were reportedly moved to unidentified accounts over several months.

Several individuals associated with the company have been named in the complaint, and a formal investigation has been launched by the Noida Cyber Police. Authorities are now analyzing blockchain transactions and digital wallet activity to trace the movement of funds.

SIM Trafficking Network Linked to Cambodia-Based Cyber Fraud

In a separate case, police in Noida arrested a man from Gurugram accused of supplying Indian SIM cards to international cyber fraud groups operating from Cambodia.

The investigation began after a victim lost approximately ₹85 lakh in a “digital arrest” scam. Tracing the mobile number used in the fraud led investigators to an e-SIM that had been activated through a telecom distribution channel and later routed to overseas operators.

Authorities allege that the accused played a role in sourcing and activating SIM cards that were subsequently used in large-scale online fraud schemes targeting victims in India and abroad.

Cross-Border Cybercrime Links Under Investigation

Law enforcement officials believe both cases reflect a broader pattern of organized cybercrime involving cryptocurrency theft, identity misuse, and telecom infrastructure abuse. Investigators are examining whether the SIM trafficking network and crypto theft operation are part of a wider international fraud ecosystem.

Digital forensics teams are currently reviewing wallet transfers, telecom activation records, and banking transactions to establish potential links between domestic facilitators and overseas cybercriminal groups.

Growing Threat of Digital Financial Crime Networks

Cybersecurity experts note that such cases underscore the increasing convergence of cryptocurrency fraud and telecom-based identity exploitation. Criminal networks are reportedly leveraging anonymous digital wallets alongside SIM-based identity systems to execute and mask financial crimes at scale.

Authorities have indicated that further arrests and disclosures are possible as the investigation expands.