The Indian police have secured the arrest of five suspects tied to a work-from-home task scam, dismantling the entire criminal enterprise. According to the police, it busted the cybercrime syndicate that scammed a woman of over Rs. 17.29 lakh (approximately $21,000) through the bogus scam.
The Indian police said it has arrested and identified the accused as Krish, Deepa, Gaurav, Manthan, and Nidhi Agarwal, who allegedly worked as a cryptocurrency handler. The matter was first brought to the attention of the Indian police in July, after a 29-year-old woman located in Burari filed an FIR complaint against the group. The woman claimed she was lured into the scheme, carried out majorly on Telegram, while she was searching for a job.
Indian police apprehend suspects in bogus crypto theft
According to the FIR filed by the woman, the suspects preyed on her desperation to secure a job to scam her. The scammers allegedly convinced the woman to carry out online tasks on Telegram and make UPI payments, promising her commissions at the end of the overall tasks. Unknown to her, the tasks were entirely fabricated, and she was sending the funds to the criminals.
In addition, the Indian police added that the criminals also misused her credentials, using her details to take out personal loans worth around Rs. 8.8 lakh (approximately $11,000). The police mentioned that they were able to uncover the complex laundering trail using a mix of technical surveillance, digital forensics, and financial transaction analysis.
The stolen money was moved through multiple bank accounts before being converted into digital assets (mostly USDT) and then being sold on several Telegram-based crypto dealer groups. The police mentioned that after getting enough information to go after the criminals, they carried out strategic raids at different locations across Delhi, leading to the arrest of the five suspects.
During questioning, one of the suspects, Krish, who lived in Ashok Vihar, was the central link between the victims and the crypto buyers. The Indian police said that Krish was in charge of managing the flow of stolen funds. He confessed to collecting UPI IDs and bank account details from his associates and forwarding them to the same cryptocurrency dealers on several Telegram channels.
Investigators reveal the criminals’ modus operandi
The funds received in these accounts were either withdrawn in cash or converted into USDT through Nidhi Agarwal, who the police alleged was operating locally by using international communication channels. Authorities also claimed that Deepa, who hails from Kabir Nagar, admitted to sourcing and onboarding account holders willing to lend their accounts for money transfers.
She was also in charge of physically moving cash and introduced other members into the operation, including Gaurav, who served as the focal point between account holders and Krish. Gaurav recruited 19-year-old student Manthan, who used his account to receive Rs. 50,000 ($600) in stolen funds in exchange for a small commission. He was also involved in the handover of cash for crypto conversions.
All three confirmed that the crypto wallet addresses used in the operation were shared on WhatsApp, and the transactions were handled and coordinated by Krish. The Indian police claimed Nidhi, who is known as the ‘Crypto Queen,’ played the most important role in the group. Aside from laundering criminal proceeds, she was also in charge of buying digital assets at wholesale rates from unregulated exchanges and reselling them for profit.
She also operated a WhatsApp with an international number, which she got from local contacts, to evade detection and capture. The police added that no official license for currency exchange or crypto trade was found in her possession. “These disclosures have uncovered a broader conspiracy involving foreign Telegram handlers, unlicensed crypto dealers, and digital money laundering channels across national and international platforms. The investigation of this case is in progress, and efforts are going on to ascertain the role of other associates involved in this racket and to recover the cheated amount,” DCP (North) Raja Banthia said.
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