Lucknow: Lucknow Police have dismantled an alleged cybercrime network involved in laundering proceeds of online fraud through bank “mule accounts” and cryptocurrency transactions, arresting three individuals under Operation CYVAJRA. Investigators said the racket targeted unemployed youths, using their bank accounts to channel illicit funds before converting the money into cryptocurrency for transfer to overseas operators.
The Hazratganj Police, in coordination with the Central Zone Cyber Team, arrested Varun Kant Sharma (30) of Badaun, Prem Kumar alias Vimal of Farrukhabad, and a woman whose identity has been withheld. Authorities have also frozen nearly ₹5 lakh in bank accounts allegedly linked to the operation.
According to Assistant Commissioner of Police (Hazratganj) Rajneesh Verma, the police recovered 23 ATM cards, 13 passbooks, nine cheque books and five mobile phones from the accused during the operation.
Investigators alleged that the group lured job seekers from neighbouring towns and villages with promises of employment, persuading them to open bank accounts. The suspects then allegedly collected ATM cards, passbooks, cheque books, SIM cards and internet banking credentials, giving the syndicate complete control over the accounts.
During interrogation, police said Prem Kumar revealed that the account details were shared via the messaging platform Telegram with two alleged handlers identified as Amit and Dinesh Singh. According to investigators, the handlers forwarded the information to overseas cyber fraud operators.
Police alleged that once proceeds from online frauds were deposited into the accounts, the money was withdrawn immediately using ATM cards and cheque books. The cash was then allegedly converted into USDT (Tether) cryptocurrency before being transferred through channels linked to foreign operators.
Additional Deputy Commissioner of Police (Central) J.K. Dubey said the two alleged handlers, Amit and Dinesh Singh, remain absconding and efforts are underway to trace them. Investigators are also examining whether the network has links to other interstate or international cybercrime syndicates.
Police said the investigation is continuing to identify additional beneficiaries, trace financial transactions and determine the full extent of the alleged laundering network. The allegations remain under investigation, and the guilt of the accused will be determined through the judicial process.
