A 34 -year -old woman from Tarnaka lost over 1.05 GBP Crore in fraud with cyber investments that promised huge revenues, but instead exhausted her savings on the network network and the crypto wallet.
Police Hyderabad Cyber Crime Police arrested six organized gang members behind the missile, while the main accused, identified as Chen Chen of China, remains freedom.
The arrests were identified as addulapuri Harsha Vardhan, Venu Kondon, Mylaram Pradeep, Pachipal Vinodh Yadav, Parasanaboin Vamshi and Mangali Laxman. Police confiscated 15 debit cards, three deposits, one control book, eight mobile phones
“Between January to July this year, the victim from Tarnaka was lured through Instagram and Telegram groups, where fraudsters presented as NSE and SSDCX coins. To build confidence, they scored small rewards before convinced her to convince her to make more transfer, check -in and approval,” the officer said.
Although her business application’s account falsely showed the CRORE balance of 6.05 ₹, she never received a replacement and eventually realized she was deceived from 1,05.03 752 GBP.
The probe revealed that the accused had opened more than 50 bank accounts to direct the cheated funds. One such account was used to direct 90 000 GBP from the victim’s money before the ATM cards were handed over from one accused to another for selections. Cash was discarded at ATMs and pumps with gasoline, each accusing the commission for transactions.
“Using a crypt of wallet, he bought a USDT, a short for the US dollar harness, a type of cryptocurrency called Stablecoin, from a fraudulent yield. Then he transferred it to Chen Chen abroad, who in turn paid commissions in Rupia,” the officer explained.
Citizens were advised to be careful about unsolicited investment offers and immediately report suspicion of cyber fraud by dialing in 1930 or visiting computer crime.gov.in.
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Published – August 22 2025 17:51 IS IS
