Indian police have recovered about $ 3,000, facilitating the reimbursement to a victim who dropped for a false online crypto investment scam. The reimbursement was facilitated by the cybercrime unit of the Cyberabad police, which makes it the first time when the digital assets lost in a fraud case were recovered.
According to the report, the funds were recovered after legal intervention and international cooperation. Indian police were able to trace, freeze, recover and reimburse the victim in this case. In the report sheet, the case was registered with the police on February 2, 2024, the victim immediately alerting the police that they discovered that they had been scammed.
Indian police reimburse the digital assets stolen by crooks
After the Indian police received the complaint, they launched the investigation, Following the digital transactions track. The survey revealed that the victim had been attracted to the investment of 24,275 USD, an equivalent of Rs. 20.39 Lakh, in an online online investment program. Like each program, the crooks promised him feedback for each investment he made. Police mentioned that payments had been made on several wallets.
Police say the criminals defrauded the victim under the guise of concluding negotiation contracts, promising him high yields on his investments. After following the digital trace of transactions, Indian police discovered that some of the funds had already been transferred to a portfolio that had links with an international cryptocurrency exchange which had their head office in Seychelles. Police have issued an official opinion to the exchange, requesting details of your customer's knowledge (KYC) and the portfolio.
Police noted that the exchange has been of great help in their investigation, complying with their opinion and revealing the identity of the portfolio holder. The exchange also confirmed an available balance of 0.03979 BTC, worth around $ 3,746 or Rs. 3.22 Lakh. With the information, Indian police urged the court for a debit gel order, which the court duly granted.
After the submission of all the relevant documents and the details of the transaction flows, the court ordered the exchange to launch a refund of frozen assets to the victim's portfolio. Subsequently, approximately 3,125.42 USDT, worth around 2.68 Lakh was returned to the victim.
Cybercrime police warn against the rise in criminal activities related to digital assets
Following the case, Indian police published an advisory opinion on the increase in criminal activities linked to the country's digital assets. While the police stressed that the crooks have also revealed their activities in other parts of the globe, residents should be careful when they relate to foreigners they meet on the Internet. They warned that the public should refrain from sharing sensitive information with foreigners.
Police also warned of the increase in the series of online investment and trading activities. They have mentioned that, since more people are now turning to crypto to earn money, criminals are now entering space, disguising their intentions and arguing users without distrust.
These criminals use platforms like WhatsApp, Telegram and Facebook to target their potential victims. Some even go so far as to befriend a few months before presenting them to the investment. In this way, they gain confidence and betray this confidence in the scams.
In addition, residents were also warned to pay attention to the type of applications they install on their phone. Police mentioned that criminals went so far as to clone applications, instilling them with spy software that will help them steal digital assets. They mentioned that, most of the time, crooks present these applications to people as harmless investment applications, with the final flight game of any digital active ingredient that the user has.
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