In a significant crackdown, the cybercrime police in Agra have dismantled a major interstate fraud operation that allegedly duped investors of nearly Rs 100 crore through a sophisticated fake cryptocurrency investment scheme. Officials announced the breakthrough on Saturday, revealing a web of deceit built on forged websites and misleading seminars.
The Mechanics of the Deception
The accused created a completely fraudulent cryptocurrency investment platform, complete with a dummy email ID to lend it an air of legitimacy. To attract victims, they promised unusually high returns in a short period through a referral-based "chain system." ADCP Aditya explained that the fraudsters organized seminars at hotels, posing as influencers. "They assured participants that an investment of Rs 1 lakh could yield returns of up to Rs 7 lakh," he said.
Officials detailed that the platform was entirely controlled by the gang. This allowed them to manipulate server data, display fake wallet balances, and show fictitious profits on the website to build false confidence among investors. "Investors were systematically denied withdrawal access. Once a significant number of people had invested, the website was abruptly shut down, and all investor IDs were blocked," ADCP Aditya added.
Wide Net of Victims and Money Trail
The scam cast a wide net, targeting approximately 1,500 people in Agra alone. Victims were also identified across Meerut, Baghpat, Aligarh, Noida, Ghaziabad, and parts of Uttarakhand, Himachal Pradesh, and Delhi. The stolen funds were funneled into multiple bank accounts and cryptocurrency wallets. Investigators have found that some of the illicit money was invested in real estate in Dubai and other cryptocurrencies.
Following technical surveillance and digital evidence collection, police arrested two key suspects: Vinod Kumar from Baghpat and Vinay Kumar from Lucknow. They have been charged under BNS sections 406 (criminal breach of trust), 419 (cheating by personation), 420 (cheating and fraud), along with relevant sections of the IT Act.
Ongoing Investigation and Recoveries
From the arrested duo, police seized three mobile phones, a laptop, fake Aadhaar cards, and a Dubai SIM card. During interrogation, they revealed the involvement of several other accomplices, including promoters. Four other suspects—Gopal, Sachin Swami, Narendra Kumar Sisodia, and Shubham Sisodia—are currently missing, and a manhunt is underway.
The investigation remains active as authorities work to trace the complete money trail and apprehend the remaining members of the gang. This case highlights the growing threat of sophisticated cyber fraud exploiting the public's interest in digital currency investments.
