Delhi Police have apprehended six individuals, including the mastermind of a sophisticated cryptocurrency scam that defrauded a man of Rs 10 lakh. The accused created a fictitious crypto trading platform, exploiting social media to lure victims with assurances of high returns.
The chief perpetrator, Himanshu Baisoya, a BCA graduate from Kotla Mubarakpur, operated several fraudulent bank accounts, converted cash to cryptocurrency, and manipulated victims into believing they were profiting through fabricated dashboards. The scam unravelled when a victim reported the fraud to the South cyber police station.
Police investigations led to the arrests of accomplices across states; their scheme involved procuring bank accounts and SIM cards under false identities. A coordinated effort by police uncovered that encrypted messaging apps were used to protect the syndicate’s anonymity, and the case remains under investigation for further suspects and victims.