Man arrested in crypto currency fraud by Hyderabad police

A local resident of Hyderabad was duped by cyber fraudsters of Rs. 5.98 lakh and during the investigation the police tracked down Harsh Kumar who was in part of the racket.

Hyderabad: An alleged fraudster who had helped Chinese nationals in duping gullible people was arrested by Hyderabad police on Monday.

The man identified as Harsh Kumar, (24) from Aligarh in Uttar Pradesh had facilitated a group of Chinese fraudsters in opening an account in crypto business company ‘Binance’ and transferred the crypto currency to different accounts, said DCP Cybercrimes, Sneha Mehra.

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A local resident of Hyderabad was duped by cyber fraudsters of Rs. 5.98 lakh and during the investigation the police tracked down Harsh Kumar who was in part of the racket.

The official said the cyber fraudsters are cheating the innocent people and extorting huge amounts by impersonating as Fedex courier authorities and police personnel by threatening innocent people by saying that some parcel, which is having illegal contents like Drugs was sent on their name and with their Aadhar, mobile number etc.

“On pretext of getting their name cleared and not registering the case against them the gang are asking to victims to purchase crypto currency and transfer to the account of different persons. The account holders are paid a substantial percentage as commission,” she explained.

The police seized a mobile phone and a laptop from them.