5 of cyber gang that sent 8cr into 30 Pak bank accounts nabbed

Time of India

3 days ago

Lucknow: Balrampur police on Saturday night uncovered an international cyber fraud and terror funding racket involving cryptocurrency and cross-border transactions. It arrested five people for allegedly funnelling over Rs 8.15 crore to 30 Pakistani bank accounts using the Binance app.
Tired of too many ads? go ad free now
According to police, the transactions took place between Sept 2024 and July 2025.
The mastermind, identified as Suspier Chaudhary, a resident of Bihar's Nawada district, was operating the network from New Delhi.
He was arrested near Kodri Ghat bridge in Balrampur, along with co-accused Pradeep Kumar Singh from Fatehgarh (Farrukhabad), and Satyadev, Lavkush Verma, and Jai Prakash also from Balrampur.
According to Balrampur SP Vikas Kumar, the gang used over 200 mule bank accounts created under fake or rented identities.
Chaudhary managed at least four WhatsApp accounts to coordinate operations. Two Pakistani bank account details were found on his mobile phone. The funds were converted into cryptocurrency and routed using Chinese and Singapore-based mobile applications, prompting police to contact foreign agencies for further investigation.
Each mule account was tasked with receiving Rs 1 lakh daily, which would be withdrawn via ATMs.
Account holders were paid a 15% commission.
The locals rented their bank accounts for Rs 10,000 per month, unaware of their usage in cyber fraud. The withdrawn cash was then redeposited via cash deposit machines and routed abroad through apps.
"The apps—some of which include names like Udhar Loan, Rupee Factory, Quick Loan, Credit Bee, Evirtualpay, Revolut, Daisysms, Cybersource, Monzo UK, Nicepay, Pay Labs, Zelle, Ebl Gateway, and others—were distributed through Play Store, Telegram links, and WhatsApp messages," said Kumar.
Tired of too many ads? go ad free now
The victims, often in urgent need of small loans, would download these apps and submit personal documents such as bank account numbers, Aadhaar, and PAN cards. Once uploaded, the apps would auto-transfer small amounts (e.g., Rs 1,200) into their bank accounts, only to demand Rs 2,000 or more within 7 days.
"If repayment was delayed, the apps would misuse the access granted during installation to retrieve contact lists, photos, and personal files.
Victims were then subjected to blackmail, abuse, and threats of public shaming, coercing them to repay inflated amounts," he said.
The scam proceeds were not transferred back to the fake loan apps. Instead, Chaudhary and his associates used bank accounts of individuals hired on commission. These accounts were accessed with ATM cards and SIMs collected covertly. The funds were withdrawn in cash and deposited into Cash Deposit Machines (CDMs) into middlemen's accounts, who then converted the money into USDT (a stable cryptocurrency) via the Binance exchange.
Through Peer-to-Peer (P2P) crypto transactions, the fraudsters laundered the money abroad, often to Chinese handlers running the scam from offshore locations, the district police chief said.
"Anil admitted to receiving a 10% commission from each transaction. He retained 5% for himself and distributed the remaining among account providers and agents like Pradeep, Satyadev, Lavkush, and JP Yadav, who supplied bank accounts, ATM cards, and SIMs. These details were often delivered anonymously via buses or porter services to Delhi, helping maintain operational secrecy," said the police.