Crypto Scam Busted: ₹13.72 Lakh Fraud Uncovered in Cuttack
Key Points
₹13.72 lakh crypto scam busted by Cuttack Cyber Police; 3 arrested from Rourkela.
Fraudsters used pre-activated SIM cards and forged documents to siphon funds. 39 bank accounts frozen; earlier arrest of IIT student hints at larger network.
Cuttack, Sep 15: In a major breakthrough, the Cuttack Cyber Police have arrested three individuals involved in a cryptocurrency-related fraud amounting to ₹13.72 lakh.
The accused, all contractual employees at various payment banks, were operating out of Rourkela and had been using pre-activated SIM cards to execute the scam.
The investigation revealed that the accused had been duplicating documents of unsuspecting customers visiting payment banks. Using these forged documents, they activated SIM cards and linked them to fraudulent bank accounts to siphon off funds through crypto transactions.
📱 Get Argus News App
✨Police seized three Aadhaar cards, three passbooks, and froze 39 bank accounts connected to the scam. The arrested individuals reportedly used these accounts to route stolen money and convert it into cryptocurrency, making the trail harder to trace.
Earlier, an IIT student had also been arrested in connection with the same racket, indicating a wider network of tech-savvy fraudsters exploiting digital finance platforms. The case came to light after a youth from Cuttack reported being duped of a significant amount.
The use of pre-activated SIM cards played a crucial role in
bypassing verification protocols, allowing the accused to impersonate victims
and gain access to their financial data. Authorities believe this method has
been used in multiple cases across the region.