Hyderabad Police Bust Crypto Extortion Ring, Arrest Four Individuals

A man from Begum Bazar in Hyderabad reported being cheated out of Rs 7 lakh by four individuals who claimed to facilitate cryptocurrency transactions. The accused, identified as Saber Bin Ahmed Hadrani (23), Mohammed Abul Salam (19), Mohammed Anas (21), and Mohammed Asif (27), allegedly lured victims through Facebook with offers to complete cryptocurrency deals.

After gaining their trust, the group would call them to designated locations, claiming it was a matter of completing transactions. Once there, they would cheat and extort money from the victims. Police stated that this modus operandi has been used in at least four other cases registered at Bandlaguta and Chandrayangutta police stations this year.

The accused were arrested on Monday by the Bandlaguda police. One of them, identified as Asif, is still absconding.