Delhi Police Bust ₹74 Lakh Crypto Scam – Crypto Meets Its Match… Or Does It?

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Key Highlights

  • Delhi Police Crime Branch arrests two masterminds behind a ₹74 lakh crypto scam, involving money laundering through cryptocurrency and mule bank accounts. Oh, the usual.
  • Investigators find a trail leading to foreign handlers, where stolen rupees were magically converted into crypto and whisked away to parts unknown.
  • This scam is just the latest in a growing collection of crypto investment disasters cropping up across India in 2026, joining the illustrious ranks of Ahmedabad, Bhopal, and Pune.

And just when you thought it was safe to click that “too good to be true” crypto investment link, Delhi Police’s Crime Branch has swooped in, dismantling a grand scheme that swindled a cool ₹74 lakh from some rather trusting individuals. The scam, which used cryptocurrency as a get-out-of-jail-free card, involved two suspects being arrested, and, shockingly, their criminal mastermindery didn’t stay confined to India. The scam had international flair. Because why not?

According to ANI (who’s always in the know), this scam used the same tried-and-tested formula that’s been doing the rounds in India’s burgeoning crypto fraud scene: promise big returns, coax victims into giving up their hard-earned money, move the funds through multiple shady bank accounts (because who doesn’t love a little extra friction?), and finally, use cryptocurrency to make the funds vanish faster than a magician’s rabbit. Brilliant, right?

How the Scam Worked

Our brilliant fraudsters had set up an online investment platform that promised high, guaranteed returns. (Spoiler: there’s no such thing as a guaranteed return in the investment world-unless you’re talking about losing money.) Victims were encouraged to deposit their funds into a rotating series of mule accounts. The funds were then shuffled through multiple accounts like a game of digital musical chairs before being converted into cryptocurrency. And then-poof!-the money was sent overseas, leaving investigators scratching their heads. The crypto element? That’s the part that made this trail more slippery than a greased eel in a wetsuit.

According to a senior Crime Branch official, the use of cryptocurrency really added a nice little twist to the scam. It made following the money as difficult as finding a needle in a haystack, except the needle is encrypted and the haystack is full of fake bank accounts. Classic move.

Two Arrests, Two Separate Cases

In an ironic twist of fate, the first suspect was nabbed in Greater Noida for allegedly swindling a single victim out of ₹27.82 lakh (let’s hope they invested that money into something productive, like a crypto scam education program). The second suspect, a mule account holder (yes, they’re real), was arrested for handling ₹47 lakh from a separate scam run by the same criminal gang. The amount of fraud happening here is enough to make any sensible person rethink their online investment habits.

In their pursuit of justice, the police recovered multiple misused SIM cards, mule bank accounts, and other digital breadcrumbs that led them straight to the gang’s crypto stash. The investigation was led by Inspectors Sandeep Singh and Vinay Kumar, with the whole operation being supervised by ACP Patil Swagat Rajkumar and DCP Aditya Gautam. They were on fire. Unfortunately, the same can’t be said for the crypto criminals, whose chances of getting away with it are now significantly lower.

Part of a Wider Pattern in India

The Delhi bust isn’t an isolated incident-oh no, this is becoming a troubling trend. In the last week alone, Ahmedabad’s Cyber Crime Branch nabbed six people linked to a ₹1.5 crore crypto scam that involved USDT deposits and social media trickery to lure in victims. In Bhopal, a property dealer lost ₹18.5 lakh to a fraudulent share trading app that was only too happy to charge a “processing fee” when the victim tried to withdraw his illusory profits. Because who doesn’t love a fee that doesn’t actually do anything?

The modus operandi is eerily consistent: victims are contacted on Facebook, WhatsApp, or Telegram, trust is built (because everyone knows that strangers online are totally trustworthy), and then they’re persuaded to invest in a fake platform or app. Once they try to withdraw their funds, they’re hit with more “fees” that never end, because when you’re in the world of scams, why stop at one fee when you can have many?

A Reminder for Indian Investors

Delhi Police’s Crime Branch, clearly fed up with these scams, has reminded the public to be extra cautious when making online investments. Their advice? Don’t trust platforms that ask you to send money to strange wallets, exchanges, or unregistered bank accounts. If it smells fishy, it probably is.

As India tightens its grip on digital asset regulations, enforcement agencies are making better use of blockchain analytics to track down these scams. But with each bust revealing new international connections, it’s clear that the scammers are always one step ahead. Will they ever be caught? Well, that’s a different story-but at least they’re not getting away with ₹74 lakh this time. Maybe.

Also Read: India Reports ₹1.5 Cr Crypto Scam in Ahmedabad, ₹18.5 Lakh Lost in Bhopal

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2026-04-10 12:04