Noida. A case involving the transfer of around ₹3.5 crore from different bank accounts into the accounts of a Greater Noida-based company in exchange for USDT, a digital currency, has come to light. The banks froze the company’s accounts after the transactions were flagged as suspicious. Based on a complaint, the cyber crime police have registered an FIR against Farhan alias Lavkush, Adil and others.
The complainant is a partner in a company operating in the Women Entrepreneur Park in Greater Noida. According to the complaint, in June 2025, the complainant met Farhan alias Lavkush through Adil, an acquaintance working at Kotak Mahindra Bank’s Lajpat Nagar branch in Delhi.
FCRF Launches CP-FRM to Build India’s Next Generation of Fraud Risk Professionals
Farhan allegedly expressed his intention to purchase USDT from the company at a rate of ₹90.50 per unit. Since he was a new customer, the company required full payment before transferring the digital currency.
Instead of making the payment from his own bank account, Farhan allegedly arranged for around ₹3.5 crore to be transferred to the company’s accounts from several different bank accounts.
The company management reportedly raised an objection to receiving money from multiple accounts. Farhan allegedly assured them that the payments were legitimate and promised to provide the KYC documents and other records relating to the accounts.
The company subsequently transferred USDT to the digital wallet provided by Farhan.
After the money was received, RBL Bank and ICICI Bank flagged the transactions as suspicious and froze the accounts. According to the complaint, around ₹20 lakh to ₹30 lakh was frozen in the accounts, while ₹6.71 lakh was debited.
After the accounts were frozen, the complainant contacted Farhan, but he allegedly avoided meeting them. During a later meeting at a hotel in Mayur Vihar, Delhi, he allegedly refused to provide the KYC documents and other records relating to the accounts from which the money had been transferred.
The cyber crime police have registered the case against Farhan alias Lavkush, Adil and others on the basis of the complaint. Further action in the matter is underway.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
Follow for daily updates on cybercrime, corporate fraud, DFIR, hacking, investigations, and digital forensics
