🔐 ₹80 Lakh #CryptoFraud Busted in Lucknow — 8 Arrested
🚨 In a major cybercrime breakthrough, police have uncovered an ₹80 lakh cryptocurrency scam involving fake USDT (Tether) trading. Eight individuals were arrested across different city locations during a coordinated operation using digital surveillance and intelligence inputs.
👮♂️ Authorities revealed the gang operated through:
🔹 Foreign crypto handlers
🔹 Mule bank accounts
🔹 Untraceable wallets over the TRC-20 network
💬 Transactions were run via Telegram channels controlled from abroad. The gang avoided legal exchanges, instead using peer-to-peer (P2P) wallets with no KYC, ensuring complete anonymity.
💸 Modus operandi:
Local individuals were paid to receive large amounts via NEFT/RTGS/IMPS.
Funds were withdrawn in cash the same day.
Money was handed to underground crypto brokers.
USDT was purchased anonymously.
🧾 The arrested couldn’t show valid trading records, GST papers, or verified wallets. Their wallets, mostly used for laundering, are out of Indian legal reach.
🔍 Seized Items:
📱 16 mobiles | 💻 2 laptops | 💵 ₹1.85 lakh cash
🚗 4 vehicles | 📒 Multiple cheque books & passbooks
👤 Those arrested: Men aged 21–40, from cities including Lucknow, Gonda, Barabanki, Raebareli & Basti.
🔍 Investigations continue to trace foreign handlers and more accounts. Further arrests are expected as authorities tighten the net around cross-border financial crimes masked as crypto trading.
⚖️ Case registered under multiple BNS and IT Act sections.
👁️ Authorities warn about rising crypto scams exploiting legal loopholes.
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