Perumalpuram police swiftly arrested three individuals within 24 hours for defrauding Antony Selvan, a 40-year-old web designer and cryptocurrency trader, of cryptocurrency worth Rs 75 lakh. Authorities also recovered the stolen digital assets from the suspects’ electronic wallet.
Antony Selvan, residing in Rajarajeswari Nagar, filed a complaint on Monday, alleging that L Mohammed Riaz (36), along with his associates A Iyyadurai (37) and P Esakkimuthu (28), had approached him posing as forex traders in need of USD Tether cryptocurrency. Selvan transferred 82,691 USD Tether, valued at Rs 75 lakh, to Riaz’s electronic wallet. Upon realizing he was duped with counterfeit currency, Selvan approached the police.
A special investigation team launched operations across Dindigul, Palani, and Palakkad (Kerala), and arrested all three suspects within a day. The police successfully recovered the cryptocurrency, which will be used as evidence during court proceedings, according to the police statement.
