Cybersecurity researchers at CloudSEK’s STRIKE team have revealed the existence of a large-scale fake currency operation exploiting digital platforms to circulate counterfeit Indian banknotes. The operation, running openly on channels such as Facebook and Instagram, is estimated to have moved fake currency worth over ₹17.5 crore (approximately $2 million) between December 2024 and June 2025.
Scope and Reach of the Operation
The investigation uncovered the sale and distribution of counterfeit notes across several Indian states, with a notable concentration in Maharashtra. CloudSEK’s findings point to a vast network comprising more than 750 social media seller accounts and 410 associated phone numbers.
Advanced Investigative Techniques
In a groundbreaking move, the STRIKE team utilized a combination of digital forensics, GPS tracking, and facial recognition technology. These advanced techniques facilitated not only the identification of online accounts but also traced key individuals organizing and running the enterprise. For the first time, such tools have enabled a direct digital attribution of large-scale counterfeiting activities in the Indian context.
Operational Modus
The counterfeiters used openly accessible social media posts and direct messaging to advertise, arrange, and distribute fake currency. Through extensive mapping of these digital activities, researchers documented the structure and methods employed, revealing a sophisticated and organized clandestine economy.