Hyderabad: Crypto scam busted, victims get refunds

Hyderabad: City cybercrime police said they booked 117 FIRs, registered 26 cases, arrested 37 scammers from seven states and ensured the return of Rs 71.91 lakh to victims during special operations in January.

According to a press release issued by CCS-SIT DCP M. Srinivasulu, the arrests were linked to 15 investment frauds, two digital loan scams, four social media child sexual abuse material and Pocso Act cases, three job frauds and two business/gaming frauds. The accused were found involved in 86 cases across the country, with bank accounts showing transactions of about Rs 65 crore. They committed nine offences in Telangana, six in Andhra Pradesh and one each in Maharashtra, Karnataka, West Bengal, Bihar and Delhi.

Police seized 26 mobile phones, one laptop, 57 cheque books, 79 SIM cards, 62 debit cards, 15 shell company stamps and eight QR code scanners.

In January, zonal cyber cells received 1,706 complaints through the National Cyber Crime Reporting Portal, of which 315 FIRs were registered. Srinivasulu said the rise in FIRs was due to the C-Mitra initiative. Thirteen offenders were arrested in 13 cases across India, with Rs 10.65 lakh refunded to victims.

In one major case, Hyderabad cybercrime police arrested two accused for allegedly cheating a man of over Rs 11 lakh through a fake crypto trading platform. The scam was carried out via a woman that the complainant met on a matrimonial website. Between October 26 and November 12, 2025, he transferred Rs 11.20 lakh via UPI, bank transfers and Binance USDT and received only Rs 2,663 in return.

Police arrested Geddavalasa Ravi Kiran alias Bhadri of Gajuwaka on January 2, 2026, and Chodiplli Ganga Raju alias Sameer of Gajuwaka on January 13. Ganga Raju allegedly supplied SIM cards to the fraudsters. Five mobile phones and 10 SIM cards were seized.