Cryptocurrency Channels Used for Militant Financing Busted in Kashmir: SIA Raids Across Three Locations

Srinagar, July 11, KNT: In a significant counter-terror operation, the State Investigation Agency (SIA) of Kashmir on Thursday carried out coordinated search operations at three suspected locations—Jammu, Doda, and Handwara—in connection with an ongoing investigation into terror financing through cryptocurrency channels.

According to a statement issued by the agency, these searches were conducted to gather critical evidence aimed at unravelling a complex cross-border conspiracy designed to fuel militancy and disturb peace in Jammu and Kashmir. The investigation is being conducted under FIR No. 12/2022, lodged at Police Station CI-SIA Kashmir under Sections 18, 38, and 39 of the Unlawful Activities (Prevention) Act, along with Sections 120B, 121, and 121A of the Indian Penal Code.

The SIA revealed that the probe focuses on how digital currencies are being exploited to facilitate covert militant funding from across the border, with the objective of keeping the flames of unrest alive in the region.

“The searches were also aimed at identifying those who incite and radicalize youth against the Union of India, thereby posing a serious threat to national security,” the statement said.

Electronic gadgets, digital storage devices, and other key materials were recovered during the searches. Officials believe these will play a crucial role in identifying co-conspirators and key operatives behind the growing use of digital platforms in funding subversive activities.

The SIA emphasised its unwavering commitment to dismantling both the physical and financial infrastructures that support militancy in the region. “We are determined to trace and neutralize all support systems, including the sophisticated use of cryptocurrencies which are increasingly being leveraged to perpetuate violence and radicalisation,” the agency noted.

Thursday’s coordinated action is being seen as a vital breakthrough in tracking the money trail that sustains militant networks in Jammu and Kashmir, and may lead to further arrests and disclosures in the coming weeks. [KNT]