6 Arrested After ₹ 854 Crore Cyber Investment Fraud Is Found In

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6 Arrested After ₹ 854 Crore Cyber Investment Fraud Is Found In Bengaluru

According to police, a total of 854 crore was poured into a number of online payment methods, including cryptocurrency (Binance), payment gateways, and gaming apps.

Officials, Saturday

Six people have been detained by the Bengaluru Police after they reportedly defrauded hundreds of victims around India under the guise of an investment scheme, totaling 854 crore.

Five crore had been frozen out of the total sum that had been defrauded.

Senior Police Officer

The accused gang utilized Telegram and WhatsApp to attract the victims. They were initially urged to invest smaller sums between 1,000 and 10,000 on the promise of daily profits between 1,000 and 5,000.

Numerous victims made investments totaling one lakh to ten lakh rupees or more.

Through online payments, the victims’ investments were deposited into numerous bank accounts. When the victim attempted to withdraw the money after the investment procedure was complete, they were never given a refund.

The accused moved the combined funds to mule accounts after the sum had been received (related to money laundering).

854 crore rupees were poured into a number of online payment methods, including

a) Cryptocurrency (Binance),

b) Payment Gateways, and

c) Gaming Apps.

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About The Author

Suraj Koli is a content specialist with expertise in Cybersecurity and B2B Domains. He has provided his skills for News4Hackers Blog and Craw Security. Moreover, he has written content for various sectors Business, Law, Food & Beverage, Entertainment, and many others. Koli established his center of the field in a very amazing scenario. Simply said, he started his career selling products, where he enhanced his skills in understanding the product and the point of view of clients from the customer’s perspective, which simplified his journey in the long run. It makes him an interesting personality among other writers. Currently, he is a regular writer at Craw Security.