In one of India’s biggest digital arrest scams, cyber fraudsters siphoned off ₹58 crore from a Mumbai-based businessman by posing as CBI officials. The ongoing investigation by the Maharashtra Cyber Department has revealed an international network with links extending to Hong Kong, China and Indonesia.
According to sources, the entire racket operated through cryptocurrency transactions, with the stolen funds routed abroad via multiple crypto wallets. Preliminary findings suggest that the syndicate may be connected to a larger ₹2,000-crore digital fraud network active across India.
Investigators have found that the gang worked through a series of commission-based bank accounts. In each case, victims were coerced into making online payments under the pretext of assisting in an investigation. The money was first deposited into Indian bank accounts and then swiftly converted into cryptocurrency before being transferred to foreign wallets.
“The money trail is extremely difficult to trace,” said an officer involved in the probe. “Every transaction was layered across several wallets to obscure the origin.”
Technical analysis of the digital transactions has so far uncovered multiple IP addresses and exchange accounts linked to users in China, Hong Kong and Indonesia.
The scam came to light after a Mumbai businessman filed a complaint stating he had received a phone call from someone claiming to be a CBI officer. The caller intimidated him into joining a video call under the guise of an official inquiry and, over several hours, managed to siphon off ₹58 crore from his accounts.
During the investigation, Mumbai Cyber Police discovered that this was not an isolated case but part of a large international syndicate that has been targeting Indian citizens for over a year.
Multiple bank accounts and digital wallets connected to the case have been traced. The authorities have now initiated a process to seek assistance from foreign law enforcement agencies through Interpol to obtain relevant data.
Officials estimate that scams of this nature may have collectively generated more than ₹2,000 crore, exploiting victims across India through digital arrest tactics and cryptocurrency manipulation.