8 Cyber Fraudsters Arrested in Lucknow for Multi-Crore Telegram Cryptocurrency Scam
Lucknow police have arrested 8 accused in a major cybercrime operation that involved defrauding victims of approximately ₹80 lakh through fake cryptocurrency trading schemes operated via Telegram channels.
The sophisticated scam was controlled by Chinese handlers who used the messaging platform to coordinate illegal financial operations.
According to a press release from the Cyber Crime Police Station, the arrests were made following intelligence inputs and digital surveillance conducted by a joint team led by Inspector Brijesh Kumar Yadav.
How the Scam Operated?
The fraudsters ran a well-organized racket involving foreign handlers, mule bank accounts, and untraceable crypto wallets.
The scammers used Telegram channels controlled by Chinese handlers to conduct fake cryptocurrency trading using USDT (Tether) without any legitimate exchange.
The gang exploited loopholes in crypto regulation and bank account verification to run what police described as a “cross-border financial crime operation masked as trading”. Transactions were conducted via the TRC-20 network to bypass legal scrutiny.
Scale of the Operation
In just the past two months, the gang managed to funnel ₹75-80 lakh through their fraudulent crypto trading deals.
The operation was part of a larger trend of Telegram-based financial frauds across India.
Similar cases have emerged nationwide, with police in various states busting similar scams. In Surat, authorities arrested 8 individuals for online fraud in collaboration with a Chinese gang. They seized 14 mobile phones and 47 credit and debit cards.
Evidence Recovered
Police recovered significant evidence from the accused, including:
- 16 mobile phones
- 2 laptops
- 1 tablet
- ₹1.85 lakh in cash
- 3 cheque books
- 1 passbook
- 4 four-wheelers
The Cyber Crime Cell is now tracing other linked accounts and crypto wallet addresses, with further arrests expected in the coming days. A case has been registered under sections 317(2), 318(4), 61(2), and 111(2)(B) of the BNS, along with sections 66C and 66D of the IT Act.
Investigations are underway to identify more links in the criminal chain, especially handlers operating from abroad.
