Noida has witnessed two major cybercrime breakthroughs involving a sophisticated crypto theft and an international SIM trafficking racket. While one case involves the alleged siphoning of millions in cryptocurrency from a corporate digital wallet, the second exposes a man arrested for supplying Indian SIM cards to cyber fraud networks operating from Cambodia.
Alleged corporate crypto siphon from joint wallets
In the first case, a large-scale fraud has been reported involving a foreign exchange and crypto firm operating from Sector-62, Noida. The complainant, Prateek Gauri, a resident of Vivek Vihar, Delhi, alleged that digital assets worth crores were fraudulently transferred from company-controlled virtual wallets with the involvement of a business partner and others.
According to the complaint, Prateek Gauri and Prateek Dwivedi had jointly established a company named “5ire Technology” in 2021, with operations based in Noida. The firm was engaged in foreign exchange and crypto investment services and reportedly raised nearly USD 21 million through investors using a SAFT-based model. The company also claimed rapid growth, reaching unicorn-level valuation within a short period.
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Investigations suggest that around 13 digital wallets were created to store investor funds, holding assets such as Bitcoin, USDT, and other cryptocurrencies. These wallets were jointly controlled by the company’s directors.
The alleged fraud reportedly took place after a meeting in Dubai, where security protocols were tightened and mobile phones were kept aside. It is claimed that during this period, confidential wallet credentials were accessed, leading to unauthorized transfers. From August 2025 onwards, a coordinated operation allegedly resulted in the transfer of substantial crypto assets to unknown accounts.
Several individuals, including Rahul Rautela, Yuvraj Raghuvanshi, Himanshu Sharma, Utkarsh Dwivedi, Aman Dwivedi, Karan Ahluwalia, and others, have been named in the complaint. A case has been registered at the Noida Cyber Police Station, and a detailed technical investigation is underway.
SIM trafficking link to Cambodia-based fraud syndicates
In the second case, Noida Cyber Crime Police arrested a man named Suraj from Gurugram, Haryana, for allegedly supplying Indian SIM cards to cyber fraud networks operating out of Cambodia.
The case came to light after a victim was defrauded of ₹85 lakh in a “digital arrest” scam. During investigation, police discovered that the mobile number used in the fraud was activated as an e-SIM through a POS agent of a telecom company and was later operated from Cambodia.
Suraj, originally from Panipat in Haryana and educated up to Class 10, was found to be involved in SIM activation and distribution. Investigators believe he has supplied multiple SIM cards that were subsequently used by international cyber fraud syndicates.
Investigations, tracing wallet flows and telecom records
Authorities believe both cases reflect different but interconnected layers of cybercrime, where cryptocurrency theft and telecom identity misuse are being used to fuel global fraud networks.
Police and cybercrime units are currently examining bank transactions, wallet movements, and SIM activation records to trace the full extent of both operations. Officials indicated that the cases may have links to a wider international cybercrime syndicate, and further revelations are expected as the investigation progresses.
