Crypto Con artists Busted: Delhi-Noida Gang Defrauds Elderly People of Rs 260 Crore in the US and Canada

The Central Bureau of Investigation (CBI) has made a significant breakthrough by exposing a complex cryptocurrency scam that robbed older persons in Canada and the United States out of Rs 260 crore.

Three people—Tushar Kharbanda, Gaurav Malik, and Ankit Jain—planned the scam, which was carried out using phony contact centers in Delhi and Noida. The CBI has filed a charge sheet in the case, and all three of the suspects have been taken into custody.

The CBI claims that in order to trick their victims, the accused pretended to be representatives of several businesses, including Microsoft tech help, Amazon assistance, and international law enforcement agencies. In their digital wallets, they were able to amass more than 316 Bitcoins, which their collaborators in Dubai then converted and took out.

Gaurav Malik assisted Tushar Kharbanda, the scam's mastermind, in running the fraudulent operation. To carry out their plans, they used more than 150 tele-callers in all. In one case, Kharbanda pretended to be a Royal Canadian Mounted Police (RCMP) officer and persuaded a victim that their identity was being used illegally.

Under duress, the victim used Bitcoin ATMs connected to the gang's wallets to convert more than 93,000 Canadian dollars into bitcoin.

Ankit Jain was essential in overseeing the cryptocurrency wallets and helping to turn the pilfered Bitcoins into cash.

Through the National Central Bureau, which serves as the hub for Interpol operations in India, the RCMP provided intelligence to the CBI, which led to the discovery of the operation. When the CBI raided the accused's residences and workplaces during the inquiry, they found digital devices that included scripts for different fraud schemes.

These included phony contacts with fraud prevention agencies and impersonations of US Social Security Administration agents. The devices also contained the credentials of victims who were based in the United States, which provided insight into the scope and extent of the operation.

The CBI's action, which was started in accordance with the Indian Penal Code and Information Technology Act, demonstrates its dedication to fighting cybercrime and shielding those who are susceptible from these complex schemes.

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