Have Cyber Cells Arrested a Key Accused in Rs 34 Lakh Crypto Trading Fraud?
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Synopsis
A major breakthrough has emerged in the fight against cyber fraud as Delhi Police's Cyber Cell arrests a primary suspect linked to a nationwide crypto scam, which has defrauded a victim of nearly Rs 34 lakh. This case exposes the intricate networks behind financial crimes in India.
Key Takeaways
- Delhi Police make a significant arrest in a cyber fraud case.
- The suspect was involved in a nationwide crypto investment racket.
- Victims were deceived out of Rs 34 lakh through false promises.
- Ongoing investigations aim to trace additional syndicate members.
- Importance of vigilance and due diligence for investors.
New Delhi, Sep 28 (NationPress) In a significant development in the fight against cyber-related financial crimes, the Cyber Cell of the Delhi Police Crime Branch has apprehended a principal suspect involved in a nationwide crypto investment fraud scheme that swindled a victim of nearly Rs 34 lakh, according to police officials on Sunday.
The accused, Naresh Kumar from Karnal, Haryana, was arrested for serving as a professional "account provider" to organized cyber fraud networks operating under the guise of Coin-Ex Crypto Trading.
As stated by the Delhi Police, Naresh Kumar had established and managed 10 current accounts across various banks, including Union Bank of India, Axis Bank, Punjab National Bank, RBL, AU Small Finance Bank, IndusInd Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, and IDBI, under the name Naresh Tractor Workshop.
"By enticing investors with misleading promises of lucrative crypto trading and high-return schemes, the syndicate deceived a victim out of nearly Rs 34 lakh. This arrest has revealed the intricate connections of organized cyber fraud and disrupted essential financial channels exploited to defraud unsuspecting individuals throughout India,” the Delhi Police declared in their press release.
He allegedly provided cheque books, ATM cards, SIM cards, and internet banking credentials to his accomplices in return for monthly payments of Rs 30,000 per account.
When victims attempted to withdraw their funds, the syndicate reportedly resorted to deception and intimidation, layering financial transactions through multiple accounts to obscure their origins. An investigation has already traced Rs 9 lakh across several accounts.
Authorities noted that the accused’s IndusInd Bank account alone is linked to 13 NCRP complaints.
Despite numerous warning signs, he persisted in supplying accounts for fraudulent activities, highlighting the extensive collaboration between account providers and interstate cybercrime groups.
During questioning, Naresh Kumar confessed to being a professional "account holder" for such syndicates, allowing the masterminds to remain concealed while defrauding gullible investors.
The case has been registered under FIR No 00002/2025 (600000037/2025), dated June 5, at PS Cyber Police Station Central, Delhi, under pertinent sections of the Bharatiya Nyaya Sanhita (BNS).
Further inquiries are ongoing to identify additional syndicate members and recover the remaining funds, as stated by DCP Aditya Gautam.
Point of View
We acknowledge the alarming rise of cyber frauds and the necessity for robust measures to counteract these threats. The recent arrest by the Delhi Police highlights the importance of vigilance among investors and the need for enhanced regulatory frameworks to protect individuals from such deceitful schemes.
NationPress
28/09/2025
Frequently Asked Questions
What is the latest development in the cyber fraud case?
The Delhi Police Cyber Cell has arrested Naresh Kumar, a key suspect linked to a nationwide crypto investment fraud that defrauded a victim of Rs 34 lakh.
How did the fraud scheme operate?
The scheme involved luring investors with false promises of high returns through crypto trading, utilizing multiple fake bank accounts to carry out transactions.
What actions are being taken to recover the lost funds?
The police are conducting further investigations to trace additional members of the syndicate and recover the remaining funds.
Is Naresh Kumar the only suspect in this case?
No, the investigation is ongoing, and authorities are working to identify other members of the organized crime network.
What can investors do to protect themselves from such scams?
Investors should conduct thorough research, be skeptical of high-return promises, and ensure they are dealing with legitimate and regulated entities.
