The Hyderabad Cybercrime Police have arrested a 21-year-old Mumbai resident for allegedly cheating people through fake online trading schemes and siphoning off money using cryptocurrency transactions.
The accused has been identified as Ansari Mohammed Umar Murad alias Umar. Police said he was in direct contact with Chinese nationals and regularly communicated with them via Telegram. Two other accused in the case — Rishi Thushar Arothe alias Vikranth and Inamdar Vinayaka Rajendar alias Nikhil, both from Gujarat, had been arrested earlier.
According to investigators, Umar possessed extensive knowledge of cryptocurrency trading. Acting on instructions from a Chinese handler, he, along with Vikranth, converted Indian currency into USDT (Tether) and transferred it to crypto wallet addresses provided by the foreign operator. Police estimate that around Rs50 lakh was converted and transferred through their wallet IDs and crypto dealers.
Nikhil allegedly facilitated the fraud by providing two of his bank accounts on a commission basis and arranging four additional accounts from associates for fraudulent transactions. The accused are suspected to be involved in at least 12 similar cases across India.
The arrests stem from a complaint in which a victim was cheated of Rs32 lakh. Police said the victim encountered a fraudulent social media advertisement impersonating the Aditya Birla Group. After clicking the link, he was redirected to WhatsApp, added to an investment group, and contacted by a woman identifying herself as Aiyana Joseph, who claimed to be a trade advisor.
She allegedly convinced the victim to invest and shared a link to download a fake trading application. After investing the amount, the app stopped functioning on January 23, prompting the victim to lodge a complaint with the police.
Police said further investigation is underway to trace foreign handlers, additional money trails, and other victims linked to the cyber fraud network.
