Overview

• The Telangana Cyber Security Bureau arrested three local facilitators on July 20 in connection with a ₹3.24 crore investment fraud orchestrated through a fake trading app.
• The scam used a WhatsApp group and a phony Bajaj Financial Securities app to lure a Hyderabad investor into depositing ₹3.24 crore between May 30 and July 9 with promises of high returns.
• Investigators traced ₹10 lakh through Bandhan Bank and Yes Bank mule accounts before one suspect withdrew funds and converted them into USDT on Binance.
• Md. Raziuddin recruited Md. Waliullah and Mohd. Zubair Khan via Telegram channels suspected to be operated by foreign nationals, offering up to ₹1.5 lakh per mule account.
• The trio faces charges under sections 318(4), 319(2), and 338 of the BNS along with section 66-D of the IT Act, with investigators preparing to pursue overseas operatives.