Prakash Das (32), an accountant specialized in cryptography, was arrested in Behala, Kolkata on Saturday, for suspicion of theft. The police had arrested the leader of a gang, Amit Gupta, who was accused of defrauding an American citizen of Rs 36 lakh. According to DC (Cyber) Atul Viswanathan, Das was the main fund-handler, as evidence of his dealings in foreign accounts and crypto wallets was found. Two mobiles, a cheque book and screenshots of messages were seized from him.
Recently, three individuals were arrested in Croatia, in connection with a fraudulent cryptocurrency scheme that had affected hundreds. It is reported that the FBI accused the suspects of running an unregistered cryptocurrency firm and misleading their clients. It is estimated that the defendants caused a loss of over $18.5 million.
Moreover, Fake BPO masterminds have been hiring “crypto cashiers” to convert foreign currencies into Bitcoin. Kolkata Police started a weeks-long investigation after the FBI provided them with information about a Binance account. During a raid in Karaya, the police apprehended the man who confessed to the fraud.
In Hyderabad, a businessman lost Rs 1.5 crores after his crypto exchange account was compromised. He had bought 4.98 BTC for 1.49 crores from a Dubai source, but an hour later, he realized that the balance in his wallet was zero. An email informed him that someone had recovered it using his seed words, leading him to believe that someone familiar with his transactions was responsible for the illegal transfer of bitcoins.