Hyderabad, August 17 (Maxim News): Crypto cheating case in Hyderabad has led to the arrest of four people by Bandlaguda police.
The case involves an alleged ₹7 lakh extortion incident in Ismail Nagar, Bandlaguda. A Begum Bazar resident lodged a complaint with police on August 15, 2026.
According to police, the accused allegedly approached the complainant over a cryptocurrency transaction. They allegedly gained his confidence through discussions about the transaction.
The suspects then allegedly called him to a location in Bandlaguda. Police said the accused allegedly forcibly took ₹7 lakh from him.
Based on credible information, police traced the suspects to Kings Snooker in Chandrayangutta. A police team reached the location on August 17 and apprehended four accused.
The arrested persons include Saber Bin Ahmed Hadrani, Mohammed Abul Salam, Mohammed Anas and Mohammed Asif.
Crypto cheating case linked to other offences
Police said the accused allegedly used Facebook to identify and approach potential victims. They allegedly offered to help people with cryptocurrency transactions.
After gaining their confidence, the suspects allegedly called victims to selected locations. Police said they then allegedly carried out the offences.
Investigators found the suspects’ alleged links to four other cases registered in Bandlaguda and Chandrayangutta. These cases include Crime No. 304/2026 at Bandlaguda police station.
The other cases include Crime Nos. 86/2026, 261/2026 and 310/2026 at Chandrayangutta police station. Police are examining the suspects’ alleged roles in these cases.
Meanwhile, police are searching for another suspect identified as Asif. He remains absconding, according to the police statement.
Investigators are also tracing the money trail linked to the alleged offences. They are checking whether other people took part in the transactions.
Police will also examine whether the suspects committed other similar offences. The arrested accused will be produced before the court for judicial custody.
Police have urged the public to exercise caution when dealing with cryptocurrency offers on social media. They advised people to verify the identity and credentials of unknown persons before transferring money.
The investigation was conducted under the supervision of Assistant Commissioner of Police A. Sudhakar of Chandrayangutta Division. Bandlaguda Inspector R. Devender, Sub Inspector S. Nagaraj Reddy and their team worked on the case.
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