Chennai’s Central Crime Branch (CCB) cyber crime unit has arrested two men—TP Arun Kumar (33) of Salem and K Kannan (41) of East Tambaram—in connection with a Rs90.7 lakh online investment scam. The duo allegedly converted defrauded funds into USDT via peer-to-peer (P2P) transactions on Binance, earning a 25% commission.
The investigation began after victim Dr. G Moorthy filed a complaint, explaining that he transferred Rs90.7 lakh to multiple mule accounts through a fake trading platform promising high returns. Only after completing the transactions did he realize the app was fraudulent.
Based on banking trails, police tracked and arrested the accused, who have since been remanded in judicial custody. Authorities warn the public to verify authenticity before investing in online trading platforms.
