Crypto Fraud Bust: Key Accused Naresh Kumar Nabbed in Delhi

The Delhi Police have arrested Naresh Kumar from Haryana for his alleged role in a cryptocurrency fraud scam that swindled victims. Kumar opened multiple bank accounts for cybercriminals to launder money. Investigations continue to trace more culprits and recover the stolen funds.

The Delhi Police have detained a 34-year-old man from Haryana, Naresh Kumar, on charges of participating in a fraudulent cryptocurrency racket that allegedly defrauded a victim of nearly Rs 34 lakh. The arrest was made public following the ongoing investigation into these deceptive practices.

Operating under the alias 'Coin-Ex Crypto Trading,' the scheme attracted victims via social media, enticing them into bogus investments with promises of substantial cryptocurrency returns. Naresh Kumar pretended to be a professional account provider for organized cyber networks, actively facilitating the fraud.

Multiple bank accounts under the name 'Naresh Tractor Workshop' were uncovered, crucially used in the scam to channel and disguise financial transactions. The investigation reveals Kumar's central role in enabling the operation by supplying his banking details and managing fraudulent transactions. Efforts persist to identify other conspirators involved and retrieve the stolen funds.