Researchers Expose Massive Online Fake Currency Operation in India

A large-scale counterfeit currency operation is reportedly circulating fake notes worth millions of dollars, which has been brought to light by cybersecurity firm CloudSEK. Its investigation, shared with Hackread.com, CloudSEK’s STRIKE team has not only calculated the vast spread of this illicit trade, estimated at ₹17.5 crore (over $2 million) in fake Indian currency over just six months (December 26, 2024, to June 26, 2025), but has also managed to identify and pinpoint key individuals behind it.

The unique aspect of this exposé lies in the direct attribution of culprits. Using digital forensics, GPS data, and facial recognition technology, CloudSEK has identified and located major players across the Indian state of Maharashtra.

According to Sourajeet Majumder, a security researcher at CloudSEK, “This is the first time that a cyber investigation has offered such precise attribution of counterfeit actors operating in public digital spaces. We didn’t just find content, we identified the key perpetrators.”

To read the complete article see: HackRead Article

Learn more here: CloudSEK Report