In a significant crackdown on cybercrime, Assam police arrested three individuals on March 1 for their involvement in a large-scale financial fraud. The operation, spearheaded by DySP (DSB), DySP (B), and SI (P) Ishan Jyoti Saikia, was carried out under the supervision of the ASP Headquarters in the Fakirganj Police Station area of South Salmara Mankachar district, with the assistance of Kharuabandha outpost personnel.
The arrested suspects—Asadul Islam (25), Hashanur Zaman (28), and Kobad Ali Mollah (28)—were found to be operating an illegal cryptocurrency scheme under the name RSN Crypto Currency Token. The fraudulent scheme targeted over 2,000 victims in South Salmara Mankachar district and neighboring Meghalaya, convincing them to invest in a bogus crypto platform.
Victims were lured into investing at least Rs 50,000 each, with the total misappropriated funds estimated to be between Rs 10 crore and Rs 20 crore. The accused promoted the RSN crypto game, promising investors a 2 percent return on their investments. However, the scheme was designed to defraud investors, with no real crypto asset backing the promises.
The fraudsters utilized online payment platforms such as PhonePe, Paytm, and Chinese crypto exchanges like Binance to convert Indian Rupees into USDT (US Dollar Tokens), which were then transferred to unknown international entities. Further investigation revealed that the accused were also renting out bank accounts to other cybercriminals across India for amounts ranging between Rs 1,000 to Rs 2,000 per account per month.
During the operation, police seized eight mobile phones, two laptops, and eleven SIM cards, which contained vital evidence pertaining to the scam. Upon interrogation, the suspects confessed to orchestrating the fraudulent scheme and manipulating crypto values to coerce victims into investing. Authorities have also identified another suspect, Hekmot Ali Sarkar, believed to be the mastermind behind the operation, who is currently absconding.
The Indian Cyber Crime Coordination Centre (I4C) was consulted during the investigation, and technical analysis traced the scam’s website to China. The fraudulent website was hosted on Amazon servers, further complicating the international dimensions of the scam.
An FIR has been filed, and the arrested individuals remain in police custody as authorities work to uncover additional perpetrators and track the financial trail. Authorities have urged the public to remain vigilant against fraudulent investment schemes and report suspicious activities to the cybercrime helpline.
