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BAREILLY, UTTAR PRADESH: Bareilly police arrested the alleged mastermind of a widespread cyber fraud racket responsible for siphoning off ₹3.2 crore through fraudulent online activities. The accused, identified as Raja Babu, had reportedly laundered the money through cryptocurrency accounts based overseas.
Crypto Trail Leads to Arrest
According to authorities, the operation involved duping hundreds of victims across 11 Indian states by deploying various forms of online scams, including fake job offers and investment schemes. The stolen money was swiftly transferred to foreign crypto wallets, making the funds harder to trace and recover.
Acting on multiple complaints, the cybercrime unit tracked suspicious transaction patterns and IP addresses, eventually zeroing in on Raja Babu’s location in Bareilly. He was apprehended following a coordinated operation led by local police and cyber specialists.
During questioning, Babu confessed to orchestrating the elaborate network of digital frauds and revealed that the funds were diverted through multiple mule accounts before being converted into cryptocurrency. These crypto wallets were allegedly operated through foreign platforms to evade domestic regulatory oversight.
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Scam Network Spreads Over 11 States
Officials stated that the fraud racket extended its operations to 11 states, including Delhi, Maharashtra, Rajasthan, Gujarat, Punjab, Bihar, and Madhya Pradesh, among others. Hundreds of bank accounts and mobile numbers linked to the scam were traced during the investigation.
Police recovered numerous mobile phones, SIM cards, and digital devices used in the cybercrimes. Authorities have begun proceedings to freeze linked bank accounts and request cooperation from international crypto exchanges to track the stolen digital assets.
Law enforcement officials emphasised the increasing trend of cybercriminals exploiting digital currencies to bypass traditional financial systems, thereby complicating legal and financial investigations.
