The Central Bureau of Investigation (CBI) conducted searches at the residences of individuals suspected of engaging in fraudulent activities related to cryptocurrencies, as per officials, PTI reported. The alleged fraudsters were accused of posing as Canadian government officials to deceive victims into transferring their assets to cryptocurrency under the guise of providing technical support. The CBI's involvement was prompted by information received from the Canadian authorities, leading to the registration of a case on May 11. Utilizing local intelligence and surveillance inputs, the CBI initiated a search operation at the properties of two suspects identified as Sahil Pal and Ashish Bhambani.
During the search operation, the CBI recovered approximately Rs 1 crore in cash from the premises of one of the accused. The investigation is part of an ongoing probe into crypto frauds.
The accused reportedly adopted a fraudulent scheme wherein they pretended to offer technical support consultations to unsuspecting victims. Once they gained their victims' trust, they coerced them into transferring their cryptocurrency funds. These ill-gotten cryptocurrency assets were then routed through multiple crypto wallets, eventually landing in the perpetrators' own crypto accounts.
The CBI's intervention comes as part of its efforts to combat cryptocurrency-related frauds and protect innocent individuals from falling victim to such scams. The case highlights the need for increased vigilance and awareness regarding the risks associated with cryptocurrency transactions, especially in the context of fraudulent schemes perpetuated by impersonators posing as authorities.
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