A guy from Jagraon, close to Ludhiana, was detained after Delhi police busted a cryptocurrency fraud ring that tricked individuals by posing as work-from-home prospects.
When Sangam Yadav saw an ad for a few simple work-from-home gigs on Instagram, he stopped watching reels. A lady claiming to be a firm employee offered him compensated online activities in a group on the private messaging app Telegram. It was straightforward labor, and he received compensation for it, until everything went awry.
After uncovering a cryptocurrency ring that tricked individuals by posing as work-from-home chances, the Delhi Police Cyber Crime squad detained a guy from Jagraon town in Punjab’s Ludhiana region, according to news agency ANI.
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The “lady employee” who first provided labor to Sangam Yadav and others was this 25-year-old male, Sukhpreet Singh. On October 5, the Delhi Police opened a case in Shahdara after receiving a complaint from Sangam Yadav.
Yadav informed the police that he was paid very less to do simple product evaluation duties. He said that he was subsequently duped into using UPI to deposit a total of ₹55,100. He discovered that he had been duped when he attempted to withdraw his “profits” and was prompted to pay more fees.
A gas station in Jagraon, Ludhiana, exchanged ₹29,500 of the total amount for cash, according to police who stated they had tracked down the money trail. According to mobile location data, the perpetrator was Sukhpreet Singh. When apprehended, he said that he was a frequent participant in a Telegram channel where he engaged in cryptocurrency trading in USDT, authorities further informed ANI.
He bought USDT at market rates ranging from 94 to 98, then he sold it to the group for 105 USDT each. The sum in rupees he got in return was known to him to be the profits of cybercrime. According to authorities, he utilized many accounts to withdraw money or conduct exchanges at gas stations in order to evade suspicion.
During the two-day police detention remand, officers confiscated twelve ATM cards, six SIM cards, and three cell phones from him. Since then, they have placed him under judicial custody.
Regarding the investigation’s next steps, authorities said that the stolen funds were dispersed across other accounts, one of which belonged to an unidentified Indian Bank account holder.