New Delhi, Sep 28 In a major breakthrough against cyber-enabled financial fraud, the Delhi Police Crime Branch's Cyber Cell has arrested a key accused linked to a pan-India crypto investment racket that defrauded a victim of nearly Rs 34 lakh, police officials said on Sunday.
Officials said the accused, Naresh Kumar of Haryana's Karnal, was apprehended for acting as a professional "account provider" to organised cyber fraud syndicates operating under the name Coin-Ex Crypto Trading.
According to Delhi Police, Naresh Kumar had opened and maintained 10 current accounts in different banks – including Union Bank of India, Axis Bank, Punjab National Bank, RBL, AU Small Finance Bank, IndusInd Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, and IDBI – in the name of Naresh Tractor Workshop.
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He allegedly handed over cheque books, ATM cards, SIM cards, and internet banking credentials to his handlers in exchange for monthly payments of Rs 30,000 per account.
When victims sought withdrawals, the syndicate allegedly resorted to deceit and threats, while layering money through multiple accounts to conceal its origin. A probe has so far traced Rs 9 lakh across several accounts.
Police said the accused’s IndusInd Bank account alone has been linked with 13 NCRP complaints.
Despite repeated red flags, he continued supplying accounts for fraudulent transactions, exposing the deep nexus between account providers and interstate cyber gangs.
During interrogation, Naresh Kumar admitted to being a professional "account holder" for such syndicates, enabling masterminds to remain anonymous while defrauding unsuspecting investors.
The case is registered under FIR No 00002/2025 (600000037/2025), dated June 5, at PS Cyber Police Station Central, Delhi, under relevant sections of the Bharatiya Nyaya Sanhita (BNS).
Further investigation is underway to identify other members of the syndicate and trace the remaining funds, said DCP Aditya Gautam.
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