Assam: Three Arrested in South Salmara for Rs. 20 Crore Cryptocurrency Scam

SOUTH SALMARA: In a major crackdown against cybercrime, Assam police arrested three people for a large cryptocurrency fraud in the Fakirganj Police Station area of South Salmara Mankachar district in Assam. The late-night raid on March 1 was led by Deputy Superindent of Police (DySP), DySP (B), and SI (P) Ishan Jyoti Saikia, with help from Kharuabandha outpost staff under the supervision of ASP Headquarters.

The arrested persons have been identified as Asadul Islam (25), Hashanur Zaman (28), and Kobad Ali Mollah (28). They were allegedly running an illegal financial scheme called RSN Crypto Currency Token, cheating over 2,000 people in Assam and nearby Meghalaya.

As per reports, each victim was persuaded to invest a minimum of Rs. 50,000, with the total misappropriated amount estimated between Rs 10-20 crore. The accused lured investors through a website link, promising a 2 per cent return via the so-called RSN game, which later turned out to be a fraudulent crypto scheme.

The investigation found that the fraudsters changed Indian Rupees into US Dollar Tokens (USDT) through online payment apps like PhonePe and Paytm, along with Chinese crypto platforms like Binance. The converted funds were then transferred to unidentified international entities. Additionally, they rented bank accounts to other cybercriminals across the country for Rs. 1,000 to Rs. 2,000 per month per account.

Authorities seized eight mobile phones, two laptops, and eleven SIM cards containing crucial evidence during the raid. The arrested individuals admitted their involvement in the scam, including manipulating crypto values and coercing victims into investing. Another key suspect, Hekmot Ali Sarkar, believed to be the mastermind of the scheme, is currently absconding, and efforts are underway to trace him.

The Indian Cyber Crime Coordination Centre (I4C) was consulted during the investigation, which traced the scam’s URL links to China. The fraudulent website was found to be hosted on Amazon servers.

An FIR has been filed, and the accused are in police custody as the investigation goes on. Police have asked people to stay alert against such investment schemes and report any suspicious activities to the cybercrime helpline.

ALSO READ: Assam: Japanese Language Course at Dibrugarh University to Begin from Next Academic Year

ALSO WATCH: