The Great Crypto Heist: A Government’s Masterstroke – An attempted economic fiction thriller

The war on black money

The year was 2026. The Indian government had spent a decade battling black money, with limited success: cash hoarded in tax havens, benami properties, and offshore accounts. Demonetization? Tried it. Stringent tax laws? Bypassed. Raids and investigations? Too slow and mostly led nowhere.

There was a suspicion that even red corner notices were misused by developed countries as tip-offs of prospective wealthy immigrants.

One asset class remained untouched – crypto currency. A mysterious, borderless, unregulated digital goldmine where black money could be parked without a trace.

The Prime Minister, the Finance Minister, and the Governor of the Reserve Bank of India (RBI) sat in a secret meeting, staring at a single question:

“How do we snatch black money in India from its holders without firing a single bullet, and catch them red-handed?”

Despite intense discussion, no clear solution emerged.

Finally, a suggestion came from an unlikely source, a young economic strategist named Vikram Joshi, a rising star in India’s financial think tank.

His proposal was simple, elegant, and utterly ruthless.

“We can’t easily fight the black-moneyed. But we can try to make it disappear.”

Phase 1: The bait – A government’s wink and a nudge

One fine morning, an anonymous leak made its way to major financial news outlets:

“Since Trump has just announced that the US Government would create a National Crypto Reserve, India is considering doing something similar, not to be left behind. But India’s version would be strictly ‘Made In India’, limited only to investment, not for use as currency. Outside the government, access will be restricted to high value investments, not open to small retail investors.”

The market exploded. The few existing Indian crypto currencies shot up overnight, and new ones sprang up. And every one of them was lapped up.

No official announcement followed. There were very few vague responses by government officials during various Press Conferences to any queries on it, neither confirming nor denying the rumours. It was clear they had no brief.

Economists debated on primetime TV, WhatsApp groups buzzed, and black money holders saw the perfect opportunity.

“If crypto is about to be legitimized, it’s the safest way to convert our unaccounted cash before any regulations kick in“, they thought.

And so, hundreds of thousands of crores of rupees poured into the crypto market.

There were also rumours that the RBI had already positioned itself as a secret early investor.

Phase 2: The frenzy – The biggest crypto rush in India’s history

The speculative fever was unstoppable. Business tycoons, corrupt politicians, and even film stars jumped in.

Crypto exchanges in India reported record transactions. Millions of rupees in black money flowed into these digital assets.

The Finance Ministry sat back and watched silently. Everything was going according to plan.

Meanwhile, the RBI, through hidden proxies, had actually bought up billions in crypto when prices were still low.

The trap was set.

Phase 3: The crash – The great rug pull

Three months later, in an emergency Press Conference, the Finance Secretary dropped the bombshell: “After thorough consideration, the government has decided that cryptocurrencies pose a national security risk and will NOT be recognized.”

The crypto market crashed in minutes.

Panic selling began. Billionaires who had parked their black money in these assets watched their fortunes evaporate.

Meanwhile, the RBI had already sold off its holdings at peak prices, making a killing in the process.

In one silent stroke, billions of rupees in black money had been sucked out of private hands by the government, and deposited into the government’s coffers.

Phase 4: The aftermath – The perfect crime

The media was in shock. Experts called it the most ruthless economic maneuver in history.

Some accused the government of market manipulation. Officials simply shrugged off and said, “We had never said anything officially about cryptocurrencies. The subject was being actively discussed within the government. The government cannot be blamed for people’s bad investment decisions based on rumours.”

Meanwhile, the RBI quietly transferred its crypto transaction profits into India’s reserves.

In a single masterstroke, a lot of black money was drained, the government made billions, and the Indian economy had a newfound stability, without causing any hardship to the poor and honest, as it happened during demonetization.

The message was clear: “In the battle between the government and black money hoarders, the government will have the last laugh; it was the greed of the black money holders that did them in.”

Post script: A lesson in economic warfare

Months later, Vikram Joshi, the mastermind behind the plan, was promoted to lead India’s Economic Intelligence Bureau.

At a private gathering, a senior official raised a toast to him: “You just pulled off the greatest financial reverse-heist in history, without breaking a single law.”

Vikram smiled, took a sip of his drink, and simply said, “It wasn’t a heist. It was just… an investment strategy.”

The End.

Wouldn’t it be ironic if the biggest crypto scam in history was not by fraudsters but by a government?

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2. The views expressed here are those of the author and do not necessarily represent or reflect the views of PGurus.

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