CBI Exposes Crypto scam Targeting Senior citizens of US and Canada

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As a seasoned researcher with extensive experience in cybercrime investigations, I must admit that this case is both chilling and intriguing. The scale and sophistication of this scam are truly staggering – orchestrating such an elaborate operation from the heart of India’s capital, targeting unsuspecting senior citizens across continents, and using cryptocurrencies as a means to launder their ill-gotten gains.

In a recent development, three individuals have been apprehended in the vicinity of Delhi-National Capital Region (NCR), India, on suspicions of masterminding a complex con involving senior citizens residing in the United States and Canada. They are believed to have assumed identities as local law enforcement officers and extorted large sums of money using Bitcoins, amassing an estimated value of approximately Rs 260 crore ($30.6 million).

On Friday, the Central Bureau of Investigation (CBI) of India apprehended three individuals in connection with a complex cryptocurrency fraud. The scam involved fake call centers located in Delhi and Noida, where the suspects posed as representatives from various entities such as foreign law enforcement agencies, Amazon support, Microsoft tech support, and others. Their primary objective was to trick victims into transferring cryptocurrencies or sensitive information.

Based on reports from Central Bureau of Investigation (CBI) agents, it appears that a fraudulent scheme was carried out by three people: Tushar Kharbanda, Gaurav Malik, and Ankit Jain. The police have further stated that Ankit Jain was instrumental in handling the crypto wallets and exchanging the stolen Bitcoins into cash. They amassed approximately 316 Bitcoins in their digital wallets, which were then converted and withdrawn by their accomplice residing in Dubai.

According to the Central Bureau of Investigation (CBI), these con artists utilized approximately 150 telephone operators to carry out their fraudulent activities. In one particular case, Kharbanda pretended to be an officer with the Royal Canadian Mounted Police (RCMP). He tricked his victims into believing that their identities were being misused for illicit purposes. The victims felt compelled and transferred approximately 93,000 Canadian Dollars into cryptocurrency through Bitcoin Automated Teller Machines (ATMs), which were connected to the gang’s digital wallets.

While conducting their probe, the Central Bureau of Investigation carried out searches at both the residences and workplaces of the affected parties. They confiscated various digital gadgets that unveiled drafts for numerous deceptive activities. Among these illicit schemes were instances where individuals posed as officials from the United States Social Security Administration and engaged in dishonest dealings with fraud detection units.

The CBI stated that they initiated this action due to information received from the RCMP via their National Central Bureau, which serves as a nation’s hub for all Interpol-related activities.

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2024-12-21 10:45