₹1,880 Crore in Crypto Transactions Expose Major Cyber Fraud Network

Raipur: An investigation into a ₹21.15 lakh cyber fraud reported last year in Ambikapur, Chhattisgarh, has now led authorities to a suspected interstate and international cybercrime network. According to investigators, 23 people have been arrested across eight states. The probe has uncovered 38 fake trading portals, thousands of users, mule bank accounts, fintech payment gateways, hawala channels and suspected cryptocurrency transfers linked to overseas destinations.

The case began after a man approached the Ambikapur Cyber Police Station, alleging that he had been defrauded of ₹21.15 lakh through 84 separate transactions involving two fake trading platforms. Police investigated the complaint and filed a chargesheet against 23 accused persons last year. The complainant later approached the court, alleging that adequate action had not been taken by the Chhattisgarh Police or the central investigating agency.

As the investigation progressed, police uncovered indications of an organised cyber fraud network operating across multiple states and countries. Investigators found that the accused allegedly used different identities and pseudonyms to conceal their actual identities. Virtual numbers and mobile numbers registered in other individuals’ names were also allegedly used. The network reportedly had separate layers for developing and operating fake trading platforms, arranging bank accounts, processing payments and transferring the proceeds.