Delhi’s Crime Branch has cracked open a nationwide cybercrime syndicate that defrauded investors of more than ₹300 crore using phony trading platforms. Four masterminds from Kolkata and Lucknow are in custody, exposing a highly organized fraud machine.

The scam kicked off with enticing social media promotions promising assured high yields on stock trades. Victims joined sham Telegram channels posing as professional trading firms, then installed fake apps with manipulated interfaces simulating lucrative trades.

To hook users, scammers credited tiny fictitious profits initially, encouraging hefty deposits. When payouts were sought, excuses like service fees or taxes led to more demands, ultimately routing money to untraceable accounts. None of the apps were registered with any financial watchdog.

A meticulous probe analyzed data from over 200 bank branches, revealing 260+ accounts under 105 fictitious entities, all backed by bogus documents. Raids yielded digital devices packed with evidence, plus banking papers. Confessions pointed to international ties in Cambodia, where laundered funds were converted to cryptocurrency.

The four-year racket spanned multiple states, dodging detection through smart tech and mule networks. Authorities have seized gadgets, cards, and frozen funds, with 2,567 NCRB complaints now linked. Further arrests and case linkages are underway in this escalating cyber crackdown.