Cryptocurrency fraud: Navi Mumbai cyber police freeze bank accounts worth Rs 32.66 crore.

A bank account containing money worth Rs 32.66 crore has been frozen by the Navi Mumbai cyber police as part of their investigation into a cryptocurrency fraud, an official said on Wednesday.

A guy who claimed to have invested more than Rs 6.6 crore in bitcoin trading filed a fraud complaint with the cyber police station in Navi Mumbai, according to senior police inspector Gajanan Kadam.

According to the man’s complaint, a lady caller befriended him before urging him to invest in bitcoin trading with promises of high returns.

The officer claimed that the complainant first collected a total of Rs 75 lakh in returns on his large investments before ceasing to do so.

The passage you provided describes a case involving a cybercrime investigation in India. Here is a summary of the events described:

  1. An offense was reported to the cyber police, and the case involved various sections of the Indian Penal Code and the Information Technology Act, indicating that it was related to cybercrimes or online fraud.
  2. A police probe team was assigned to investigate the case. They began by reaching out to various banks to trace the money that the complainant had paid. As a first step, they managed to freeze accounts containing a total of Rs 32,66,12,091 (32.66 crore rupees) over the last few weeks.
  3. In the last week of September, the investigation team identified two individuals residing in Ghatkopar, a neighborhood in Mumbai, as potential suspects.
  4. Subsequently, the police arrested the two individuals, who were named as Balu Sakharam Khandagale (42) and Rajendra Ramkhilavan Patel (52).
  5. During the course of the investigation, it was discovered that the arrested persons had provided mobile numbers, bank account details, cheque books, and ATM cards of various individuals to other individuals involved in the criminal activities, suggesting a network of people participating in the fraud.
  6. The authorities are continuing their efforts to apprehend the other individuals involved in the criminal operation.

This passage highlights the steps taken by the cyber police to uncover and address a cybercrime, as well as the ongoing investigation to bring all responsible parties to justice

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