Crypto Scam Unveiled: Two Arrested in Rs 1.35 Crore Fraud Case in Indore

Two individuals have been apprehended in connection with a cryptocurrency investment scam in Madhya Pradesh's Indore, which saw victims losing Rs 1.35 crore, authorities reported on Sunday.

According to Additional DCP (Crime Branch) Rajesh Dandotiya, the perpetrators, Abhishek Kumar Mahato and Anurag Kumar Jha, are associated with a Bengaluru-based firm and have been accused of defrauding four Indore residents by offering false investment schemes.

Promises of tripling or multiplying their investment up to 15 times were made by the accused, but the returns never materialized. The police have registered a case under relevant sections, and investigations are ongoing to assess the full scope of the financial fraud.

(With inputs from agencies.)