In a major crackdown on cybercrime, two individuals from Hyderabad have been arrested in connection with a massive ₹175 crore online scam. The duo, whose identities have not yet been fully disclosed, is accused of orchestrating a sophisticated scheme that defrauded a large number of victims across India.
The scam involved the creation of fake websites and mobile applications that lured unsuspecting individuals with promises of high returns on investments, job offers, and other fraudulent opportunities. The victims were encouraged to deposit money into accounts controlled by the scammers, under the pretense of securing a lucrative deal or service. Once the funds were transferred, the scammers would disappear, leaving the victims without any recourse.
Law enforcement officials in Hyderabad, working in collaboration with cybercrime units and financial investigation teams, tracked the activities of the suspects for several months. The breakthrough came after an extensive digital trail was uncovered, leading authorities to the culprits’ operations. The arrested individuals are believed to be part of a larger network that has been conducting similar scams across multiple states, exploiting the growing reliance on online transactions and the internet.
Investigators have revealed that the scam’s proceeds were laundered through various channels, including cryptocurrency, shell companies, and offshore accounts, making it challenging to trace the money. The police are currently expanding their investigation to identify other members of the network and to recover the funds siphoned from the victims.
This arrest highlights the increasing sophistication of cybercrimes in India, where online frauds have become more prevalent with the rise of digital banking and e-commerce. Authorities are urging the public to remain cautious when dealing with online transactions, especially those that seem too good to be true. They also advise people to verify the authenticity of websites and applications before making any financial commitments.
The arrested suspects are now in police custody and are being interrogated to uncover further details of the scam. They are expected to face charges of fraud, cybercrime, and money laundering under Indian law.
This incident serves as a reminder of the need for stronger cybersecurity measures and public awareness to protect against such large-scale online scams. The police have assured that they are committed to bringing all those involved in this scam to justice and will continue to crack down on cybercriminals who exploit innocent people for financial gain.
