Delhi Police Busts Fake Crypto Investment Racket, Mastermind Among Four Arrested

New Delhi: The Cyber Cell of Delhi Police has busted an online investment fraud racket with the arrest of its key mastermind and associates, who allegedly defrauded unsuspecting investors of large sums through fake cryptocurrency schemes.

Deputy Commissioner of Police (Cyber Cell) Aditya Gautam stated that the case came to light after a complaint from a 47-year-old stationery shop owner in Mahendru Enclave, who reported losing Rs 39.5 lakh after being lured with promises of high returns through a fraudulent cryptocurrency investment platform.

During the investigation, police identified a mule corporate account at a bank in Karol Bagh. This account received Rs 10,00,000 on February 17, 2025, from the defrauded amount and was linked to at least nine complaints on the National Cybercrime Reporting Portal (NCRP).

Police reported that the account holder, Krishan Kumar (42), alias Monu, a resident of Paharganj, had been evading arrest by frequently changing addresses and mobile numbers. He was apprehended on August 20. Based on his disclosure, police arrested his associate, Deepu (32), a resident of Gopalpur, the following day.

Investigations revealed that the mule account was opened under Deepu's directions. Both men were taken into custody, and police discovered that Deepu was working with associates, including Arvind, Irfan, and others. Deepu arranged mule corporate bank accounts by convincing account holders that the funds were from gaming activities.

According to police, Irfan was responsible for monitoring account holders, while Arvind maintained connections with cyber fraudsters who routed money through mule accounts. Arvind was found to be in judicial custody for a separate case registered at Cyber West Police Station.

Through continuous efforts, Irfan was also apprehended in Paharganj.

All accused are in custody, and the police are further investigating the case.

(With inputs from agencies)

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