Hyderabad: In a major crackdown against organised cybercrime, the Hyderabad City Police has exposed a large cyber fraud syndicate operating across the country. Under the operation named “Operation Octopus”, raids were conducted in 16 states leading to the arrest of 104 accused persons. Special police teams targeted investment frauds, trading scams and the emerging “digital arrest” cybercrime model, which has become one of the fastest-growing online threats.
According to police officials, the coordinated operation continued for nearly ten days, during which 32 special teams were deployed across multiple states. During the investigation, 151 bank accounts were identified that were being used to transfer money cheated from victims. Among those arrested were 86 mule account holders, 17 account suppliers or aggregators, and one bank official accused of providing alleged internal financial assistance. The bank official was reportedly working as a relationship manager in Bandhan Bank.
The investigation revealed that the organised network was linked to 1,055 cyber fraud cases across the country, involving total cheating of approximately ₹127 crore. Police seized ₹36 lakh in cash during the raids. Authorities also recovered 204 mobile phones, 141 SIM cards, 152 bank passbooks, 234 debit and credit cards, and 26 laptops along with other incriminating material. The seized digital devices are being subjected to forensic analysis to identify other members of the syndicate and trace financial channels.
Officials said the network mainly used social media and online platforms to lure victims by offering unrealistic investment returns. In several cases, the fraudsters impersonated foreign trading experts or law enforcement officers and pressured victims by threatening legal action under the so-called “digital arrest” method to force money transfers. Investigation teams found that the cheated money was quickly routed through multiple accounts and converted into cryptocurrency and other irregular financial channels.
The operation was monitored by Joint Commissioner of Police S M Vijay Kumar and Cybercrime Division DCP V. Aravind Babu. Officials stated that continuous technical and intelligence sharing for ten days enabled simultaneous action across several states.
The Commissioner of Hyderabad City Police, V. C. Sajjanar, said cybercrime has become a serious threat to society and the police will continue its zero-tolerance policy against such networks. He also added that investigations are ongoing and efforts are being made to reach higher-level operators of the syndicate.
Police officials have also advised the public to remain cautious, especially against calls or messages promising abnormal investment profits, urgent payments, or threatening legal action to extract money. Experts say this cybercrime model is more dangerous than traditional fraud because it combines technology, financial networking and psychological pressure.
Amid the rising number of cybercrime incidents across the country, this operation is being considered a significant success. Police have stated that further suspicious networks will be identified and targeted in the coming days to curb the growing menace of online fraud.
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.
