Five held for cheating NRI of ₹27.45 lakh in cryptocurrency trade
Coimbatore cybercrime police have arrested five individuals for defrauding an NRI of over ₹27 lakh through a cryptocurrency investment scam. The suspects utilized hundreds of fake SIM cards and multiple bank accounts to facilitate the fraudulent transactions.
Why it matters
The case underscores the growing threat of sophisticated cyber-financial fraud targeting individuals through social media and digital assets.
The cybercrime police in Coimbatore have arrested five persons for allegedly defrauding a non-resident Indian (NRI) from the city of ₹27.45 lakh on the pretext of facilitating online and cryptocurrency trading.
The police said that unidentified individuals contacted an NRI from Vadavalli in Coimbatore through social media. They lured him with promises of high returns if he invested in online and cryptocurrency trading, subsequently defrauding him of ₹ 27,45,800. The cybercrime police were on the lookout for the fraudsters.
Investigators found that Vasanth (20) of Arivoli Nagar, Ajal (22) of Kovaipudur, Janagan (23) of Konganagiri in Tiruppur district, Bharath (26) of Palladam and Udayakumar (38) of Mayiladuthurai were involved the fraud.
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