Cyber Crime
How Mumbai Police Investigation Into Rs 2 Lakh Bitcoin Fraud Uncovered Rs 200 Cr Financial Fraud
BENGALURU: A Bengaluru man was detained by Mumbai Police on suspicion of defrauding a music instructor of Rs 2.47 lakh by promising him great profits by investing in bitcoin mining. While probing a Rs 2 lakh bitcoin scam, Mumbai Police discovered financial transactions totalling Rs 200 crore in eleven bank accounts. Mohammaed Jabir has been named as the suspect (31).
To deceive others, the accused’s group conducted out financial transactions totalling over Rs 200 crore in bank accounts.
After being duped in a bitcoin scam, a guy filed a complaint with the Matunga police station last year. The victim informed authorities that he received a message in August of last year asking him to invest in bitcoin mining and promised a daily return.
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He was instructed to download the ‘Arohash’ application from the Google Play store.
According to the teacher, he downloaded the software and made a profit of Rs 50 on a Rs 2,000 investment. According to police, the victim continued to profit handsomely from his investments. After afterwards, the complainant received a call from Arav Khanna, who asked him to invest a big sum of money in order to profit.
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The accused was duped and ended up depositing Rs 2.47 lakh on the bitcoin app.
The accused also organised a WhatsApp group, according to the victim, to which 200 investors were recruited. However, the app was pulled from the Play Store a few days later, citing “technical reasons,” and the group was also erased.
The victim attempted to contact the callers for the money, but received no answer. After realising he had been duped, he went to the police and filed a complaint.
Deepak Chavan led a special squad of police officers who began working on the case and apprehended the suspects in Bengaluru.
In India, more than 240 people are suspected of cheating.
A passbook, debit cards, and a cellphone were recovered from the accused’s possession, according to police. The operators of the phones were discovered to have utilised IP addresses from Dubai, and the accused had also used bogus IP addresses from China and Singapore.
Since October, police claim that only one bank account has been used to conduct transactions totaling Rs 189 crore.
They’ve also tracked down a bank account from which Rs 70 lakh was withdrawn, and they’re on the lookout for other suspects.
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