- Delhi police take into custody a multi-crore job scam suspect, Crypto Queen, and four other suspects
- The scam was based on Telegram, UPI fraud, and crypto money laundering
- The authorities follow electronic money, discovering international money-laundering webs
Indian police have said they have taken down a cybercrime network that defrauded job seekers by promising them a work-at-home scheme in a complex scam involving cryptocurrencies, and arrested five people, including the mastermind of the racket known as the Crypto Queen. A victim alone lost over 17 lakh through the scam, and police traced the illegitimate cash through a series of bank accounts and into virtual crypto assets.
According to police, the accused kingpins have been named as Krish, Deepa, Gaurav, Manthan, and Nidhi Agarwal, and these people are said to have conspired to run the Telegram-based scam. The victims were attracted by online job opportunities that needed them to perform fake job assignments in order to receive the ceded commissions. The syndicate took out personal loans of 8.8 lakh using the stolen credentials of one job seeker, police said, which increased the financial loss.
In the investigation, a web of money laundering was found with money passing through dozens of so-called mule accounts. The syndicate would then change these into USDT Tether cryptocurrency and coordinate via Telegram and WhatsApp to avoid detection. Nidhi Agarwal, alias Crypto Queen, allegedly played a pivotal role, according to the police.
Inside the Crypto Laundering Operation
According to Delhi authorities, the scam operated on a systematic basis of sourcing bank accounts on which illegal transfer of funds was done. Police said that Krish controlled the circulation of stolen money, receiving and transferring bank information to cryptocurrency purchasers through Telegram. The other important suspect, Deepa, was known to aggressively recruit account holders who would enable transactions to be executed using their bank accounts at a certain fee.
As a middleman, Gaurav offered Manthan to use his bank account and receive the stolen money of 50,000 rupees in exchange, paying him a small commission. Physically, syndicate members assisted in transferring huge amounts of cash, which were then converted to cryptocurrency.
The members then shared wallet addresses with each other secretly using WhatsApp, facilitating money transfer and laundering. As the police claim to have said, all the money laundering crypto transactions were organized under the guidance of Krish, and the process was conducted through the use of digital currency knowledge of Nidhi Agarwal.
‘Crypto Queen’ and Unregulated Markets
According to investigators, Agarwal was an unlicensed currency and crypto dealer who used international communication channels to purchase USDT crypto at wholesale price. Police said that she was selling digital commodities for profit and hiding her actions with international numbers. Government officials discovered no formal permission that Agarwal had to engage in currency or crypto purchases, proving that she used only informal, cross-border supplier networks.
Delhi police termed the operation as a part of a greater conspiracy that includes foreign Telegram handlers, unregulated crypto dealers, and laundering channels across international borders. This inquiry is still going on as the police seek to find other accomplices, other money flows, and reclaim the lapsed money.
In an official statement, DCP (North) Raja Banthia said,” These disclosures revealed a larger conspiracy of foreign Telegram operators, unauthorized crypto traders and Internet money laundering networks on both National and International levels”.
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