Lucknow police have apprehended multiple individuals in a cyber fraud investigation, exposing a vast network. The investigation revealed that numerous young people were utilizing their bank accounts for illegal financial transactions, involving cryptocurrency and USDT. The network was connected to online investment scams and fraudulent job offers.
The investigation commenced with the arrest of Ajay, a 24-year-old restaurant waiter. His interrogation provided critical leads. Ajay confessed that he was introduced to a crypto trader who offered him ₹20,000 for using his bank account for one day’s transactions.
Driven by the financial incentive, Ajay permitted the use of his account. A significant sum of money was subsequently deposited into his account, which he then transferred as instructed. After a police raid, Ajay turned government witness, revealing his involvement in an international cyber fraud group.
Through rigorous questioning, Ajay divulged detailed information about the cyber gang’s operations in Lucknow, significantly aiding the police investigation. The three-month investigation indicated that the group targeted numerous individuals, using them to facilitate money transfers.
The group targeted those susceptible to their schemes, including individuals working in small establishments and restaurants, along with college students. These individuals received payments ranging from ₹10,000 to ₹30,000 for allowing their bank accounts to be used.
Police investigations revealed that operations were managed through encrypted Telegram channels by Chinese operatives or their proxies. Local agents gathered account details and documentation. On transaction days, the account holders were instructed to withdraw cash following NEFT, RTGS, or IMPS transfers. This cash was then given to crypto brokers, who converted it into USDT using decentralized, non-KYC wallets. The Binance app was a key tool within this network.
Within the past two months, Lucknow police have uncovered money laundering activities totaling ₹5 lakh to ₹5 crore through these accounts. All illicit funds were converted to USDT and transferred overseas.
More than 60 individuals are presently being questioned. Police are concerned regarding the prevalence of mule accounts in areas such as Chowk, Indira Nagar, and recently developed residential areas of Lucknow. Despite uncovering several cases, authorities believe the scale of the fraud to be far more extensive.