A Dhaka court freezes 445 bank accounts linked to 61 individuals amid a major investigation into cryptocurrency trading, online betting, and large-scale financial fraud in Bangladesh.
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| Authorities freeze hundreds of bank accounts in Bangladesh after investigators trace massive financial transactions linked to cryptocurrency trading, online betting, and cross-border money smuggling. Image: CH |
DHAKA, Bangladesh, March 10, 2026:
A major financial investigation in Dhaka has resulted in a court order freezing 445 bank accounts belonging to 61 individuals and their affiliated organizations, highlighting growing concerns over cyber-enabled financial crimes in Bangladesh.
The order was issued by Md. Sabbir Faiz, Dhaka Metropolitan Senior Special Judge, after the Criminal Investigation Department (Bangladesh) submitted an application citing evidence of large-scale suspicious transactions linked to cryptocurrency trading, online gaming, betting, and other financial irregularities.
The petition was filed by Suman Kumar Saha, Additional Special Superintendent of Police at the Cyber Investigations and Operations unit of the Cyber Police Center (CPC). Investigators argued that freezing the accounts was necessary to prevent further movement of funds while authorities continue examining the transactions.
According to the CID’s application, the investigation began after allegations that former City Bank officer Sheikh Md. Wajih Uddin was deceived in an online scheme and transferred approximately Tk 51.12 lakh into an account described as a pawn or intermediary account. The incident triggered a broader probe that uncovered a network of individuals allegedly moving large sums of money through multiple bank accounts.
Authorities identified several individuals connected to the transactions, including SM Junaidul Haque, Omar Hit Hitlu, and Mehedi Hasan Talukder, along with dozens of others believed to be linked to the financial network.
Investigators reviewing banking records found that a total of 595 accounts across scheduled banks had processed an enormous volume of funds. Deposits in those accounts reached approximately Tk 1,212 crore, while withdrawals totaled around Tk 1,207 crore. The scale and frequency of these transactions raised serious concerns about possible misuse of the banking system.
Transaction analysis conducted by the CID suggests the accounts were connected to several forms of financial crime. These include online fraud schemes, internet-based gaming and betting platforms, cryptocurrency buying and selling outside regulatory frameworks, as well as hundi operations used for domestic and international currency smuggling. Authorities also suspect links to customs duty evasion and other illicit financial activities.
The case underscores the increasing challenges faced by regulators and law enforcement agencies as digital financial platforms expand rapidly. Cryptocurrencies and online payment channels, while enabling innovation in digital finance, have also created new avenues for moving money across borders and outside traditional oversight.
In Bangladesh, cryptocurrency transactions remain largely restricted, and authorities have repeatedly warned about their potential use in money laundering and cyber fraud. The large volume of transactions uncovered in this case highlights how illicit networks may exploit digital technologies and banking channels simultaneously.
By freezing the accounts, investigators aim to secure potentially illegal funds and preserve financial records as evidence. Officials say the investigation is ongoing and could expand as authorities analyze additional transaction data and identify further links within the suspected network.
Experts say the case reflects a broader trend across Asia, where governments are strengthening cybercrime enforcement and financial monitoring systems to address emerging risks associated with digital currencies and online financial platforms.