ED Hyderabad Zone Blocks Rs 8.46 Crore in Crypto-Linked Cyber Fraud Case
Directorate of Enforcement, Hyderabad Zonal Office, attached Rs 8.46 Crore held across 92 bank accounts. The action covers accounts linked to CoinDCX and several crypto wallets. The attachment was issued under PMLA in an ongoing probe into large-scale cyber fraud through fake e-commerce platforms and money-making applications.
The probe started after Kadapa Police filed multiple FIRs under IPC 420 and Sections 66-C and 66-D of the IT Act. These FIRs exposed similar fraud cases in other states. The scams operated through fake investment and part-time job apps such as NBC App, Power Bank App, HPZ Token, RCC App and Making App.
Investigators found that fraud groups targeted users on WhatsApp, Telegram and through bulk SMS. People were directed to register on fake platforms and perform s...