Haryana man arrested for role in Rs 34 lakh cryptocurrency fraud

New Delhi: The Delhi Police have apprehended a 34-year-old man from Haryana for his alleged involvement in a cryptocurrency trading fraud racket that duped a victim of nearly Rs 34 lakh, an official said on Sunday.

The accused, Naresh Kumar, a resident of Karnal, was apprehended for allegedly posing as a professional ‘account provider’ for organised cyber syndicates, he said.

“The fraud was being run under the name Coin-Ex Crypto Trading. Victims were lured through social media platforms and induced to invest in manipulated online groups promising lucrative returns from cryptocurrency trading,” said Deputy Commissioner of Police (Crime), Aditya Gautam.

However, when they attempted to withdraw their money, they were threatened or denied payments. The accused had opened at least 10 current bank accounts in different banks under the name ‘Naresh Tractor Workshop’.

“These accounts were provided to interstate cyber fraud syndicates for layering and diverting funds from victims across India. Financial analysis has revealed that the

accused received around Rs 30,000 per account every month as commission for allowing the misuse of his bank accounts,” Gautam said.

Investigators said a victim was cheated of nearly Rs 34 lakh through the scheme, of which Rs 9 lakh was traced across several bank accounts. The bank account in the name of Naresh Tractor Workshop emerged as a primary conduit and was linked to at least 13 complaints on the National Cybercrime Reporting Portal (NCRP). Agencies