New Delhi, The Delhi Police have apprehended a 34-year-old man from Haryana for his alleged involvement in a cryptocurrency trading fraud racket that duped a victim of nearly ₹34 lakh, an official said on Sunday.
The accused, Naresh Kumar, a resident of Karnal, was apprehended for allegedly posing as a professional 'account provider' for organised cyber syndicates, he said.
"The fraud was being run under the name Coin-Ex Crypto Trading. Victims were lured through social media platforms and induced to invest in manipulated online groups promising lucrative returns from cryptocurrency trading," said Deputy Commissioner of Police , Aditya Gautam.
However, when they attempted to withdraw their money, they were threatened or denied payments. The accused had opened at least 10 current bank accounts in different banks under the name 'Naresh Tractor Workshop'.
"These accounts were provided to interstate cyber fraud syndicates for layering and diverting funds from victims across India. Financial analysis has revealed that the accused received around ₹30,000 per account every month as commission for allowing the misuse of his bank accounts," Gautam said.
Investigators said a victim was cheated of nearly ₹34 lakh through the scheme, of which ₹9 lakh was traced across several bank accounts. The bank account in the name of Naresh Tractor Workshop emerged as a primary conduit and was linked to at least 13 complaints on the National Cybercrime Reporting Portal .
{{/usCountry}}Investigators said a victim was cheated of nearly ₹34 lakh through the scheme, of which ₹9 lakh was traced across several bank accounts. The bank account in the name of Naresh Tractor Workshop emerged as a primary conduit and was linked to at least 13 complaints on the National Cybercrime Reporting Portal .
{{/usCountry}}During interrogation, Kumar admitted that he handed over cheque books, ATM cards, SIM cards, and internet banking credentials to handlers, enabling them to operate the accounts remotely. His accounts, police said, played a pivotal role in receiving, layering, and circulating fraud proceeds, thereby shielding the masterminds.
"This arrest has disrupted a crucial financial pipeline used by cybercriminals to launder money from unsuspecting investors. Further investigation is underway to identify the other syndicate members and recover the defrauded amount," the DCP added.
The case is linked to an FIR registered on June 5 at the Cyber Police Station Central, Delhi, under relevant sections of the Bharatiya Nyaya Sanhita. Further investigation is underway.
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