Two Are Arrested For Convincing People Using a Scam Crypto Exchange to Steal ₹5 Cr.
The cybercrime wing apprehended two cybercriminals...
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According to Shailendra Singh Chouhan, who spoke with Free Press on April 17, Rajendra Singh, a resident of Katara Hills, went to the crime branch and reported that three persons had tricked him into buying gold desert coin.
The cybercrime wing apprehended two cybercriminals on Saturday for allegedly defrauding many people nationwide of Rs 5 crore using phony cryptocurrency exchanges.
Extra DCP (Crime) Shailendra Singh Chouhan revealed to Free Press that on April 17, Rajendra Singh, a resident of Katara Hills, went to the crime branch and claimed that three men—Sumit Jain, Atul Jain, and Trilok Patidar—had tricked him into purchasing gold desert coin through their cryptocurrency exchange by promising a threefold return.
He alleged that he was duped to the tune of Rs 1.15 lakh. Broadening the investigations in the case, the cyber officials detained Trilok Patidar, who told them that one of his accomplices, named Amar Wadhwani, used to assist him in developing fake crypto exchanges. Wadhwani was arrested by the cyber personnel too.
The duo told the cyber cell officials that Patidar used to work as the promoter of the fraudulent crypto exchange company, who used to lure people by travelling to various states. He used to lure people on the pretext of investing in bitcoin and other crypto-currencies, promising handsome and lucrative returns.
He had created a phony cryptocurrency exchange called Crypto 24 with Wadhwani's assistance. In order to escape suspicion, the pair originally forced those who agreed to invest in bitcoin to use the exchange they had constructed, offering meager profits. The pair acknowledged that they conned hundreds of individuals in India out of a total of Rs 5 crore. Cyber officials are looking into the matter more, according to Additional DCP Chouhan.
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