Archive · 26 Sep 2025
IT Dept. Uncovers Rs 170 Crore Crypto Fraud
The IT department found a big crypto scam where crooks stole people's identities to buy and sell cryptocurrency.
They used the names of people who didn't know anything about it to make trades worth a lot of money, about 170 crore rupees.
The people whose names were used, like a farmer and a food delivery worker, were shocked.
The IT department is now trying to find the people who are really behind the scam, and it is likely a bigger problem than they thought.
IT Department uncovered a Rs 170 crore cryptocurrency fraud.
The fraud involved the use of stolen identities from unsuspecting citizens.
Officials investigated suspicious cases across Telangana and Andhra Pradesh.
Crypto transactions were not carried out by the people whose names were used.
Investigations are ongoing to identify the masterminds behind the racket.
- Who
- IT Department officials, citizens whose identities were stolen, alleged fraudsters.
- What
- A cryptocurrency fraud involving identity theft, totaling Rs 170 crore.
- When
- The investigation is ongoing.
- Where
- Telangana, Andhra Pradesh, including cities like Hyderabad, Khammam, and Vijayawada.
- Why
- To mask high-value crypto trades using stolen identities.
- Fraud Amount
- Rs 170 crore
- Key Finding
- Identity theft used for crypto trades
- Geographic Scope
- Telangana and Andhra Pradesh
- Number of Confirmed Cases
- Nine
- Suspects
- Non-filers of income tax
- Investigation Lead
- IT Department's Foreign Investigation Unit
