📷 Image: Wikimedia Commons / Arjunaraoc
Crime
AP CID dismantles Rs 15 crore international crypto fraud, orders asset restitution
✍️ The Times of India
🗓 05 Nov 2026, 08:44 AM
👁 2
The Andhra Pradesh Crime Investigation Department uncovered a Rs 15 crore crypto investment scam involving overseas entities and secured a court order for the return of the victim’s assets.
The Andhra Pradesh Crime Investigation Department (AP CID) announced that it has successfully cracked a large‑scale cryptocurrency investment fraud estimated at Rs 15 crore, which involved operators based outside India.
Investigators said the scheme enticed investors with promises of unusually high returns, collected money through multiple crypto wallets and subsequently transferred the proceeds to foreign accounts. The victim, a resident of Andhra Pradesh, lodged a formal complaint after his funds vanished.
In a recent hearing, the special court directed the accused to return the full amount to the aggrieved investor and ordered the seizure of any assets linked to the fraudulent operation. The court also instructed the CID to continue monitoring for any related illicit transactions.
The case highlights the rising risk of unregulated crypto investments and the increasing vigilance of Indian law‑enforcement agencies against cross‑border financial crimes.
Investigators said the scheme enticed investors with promises of unusually high returns, collected money through multiple crypto wallets and subsequently transferred the proceeds to foreign accounts. The victim, a resident of Andhra Pradesh, lodged a formal complaint after his funds vanished.
In a recent hearing, the special court directed the accused to return the full amount to the aggrieved investor and ordered the seizure of any assets linked to the fraudulent operation. The court also instructed the CID to continue monitoring for any related illicit transactions.
The case highlights the rising risk of unregulated crypto investments and the increasing vigilance of Indian law‑enforcement agencies against cross‑border financial crimes.