Cracking the Case: Inside Telangana's Cyber Fraud Bust

The Telangana Cyber Security Bureau has detained three individuals in connection with an investment cyber fraud case. A Hyderabad resident reportedly transferred over Rs 3 crore following deceptive investment advice on a messaging app. The fraud was linked to international operatives converting funds into cryptocurrency. Ongoing investigations aim to identify other suspects.

The Telangana Cyber Security Bureau arrested three individuals in an investment cyber fraud case where a Hyderabad resident was deceived into transferring over Rs 3 crore. The victim was enticed via a messaging app to invest in block trading and IPOs with promises of high returns.

During the investigation, authorities discovered the money had been converted into cryptocurrency and withdrawn by the perpetrators. The main suspects, believed to be operating from abroad, contacted Indians via messaging apps, luring them with the promise of substantial returns.

The Bureau cautioned the public against converting cash to crypto due to potential links to money laundering. They urged citizens to remain vigilant and avoid interacting with strangers online to prevent falling prey to such scams.

(With inputs from agencies.)