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Hyderabad Police Arrest Five Over Rs 25 Lakh Crypto Robbery
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News18•17-10-2026, 22:00
Hyderabad Police Arrest Five Over Rs 25 Lakh Crypto Robbery
- •Nampally Police arrested five individuals for allegedly robbing Rs 25 lakh in a fraudulent cryptocurrency deal.
- •The incident occurred on October 11 when the victims were lured to an office in Bazarghat with cash to purchase USDT cryptocurrency.
- •Attackers used pepper spray and physical assault before fleeing with the money, later dividing the cash among themselves.
- •Police seized Rs 11.5 lakh in cash and three mobile phones from the accused, while two main suspects remain absconding.
- •Several of the arrested suspects have prior criminal records, including cases of murder, attempt to murder, and robbery.
Key Questions Answered
Nampally Police arrested five people for allegedly robbing Rs 25 lakh in cash from a complainant by luring them into a fake cryptocurrency deal to convert Indian currency into USDT.
During a proposed transaction on October 11, the victim and associates brought Rs 25 lakh in cash to an office near Himalayan Hotel. One of the suspects sprayed pepper spray on a purchaser while another attacked a second person before the group fled with the cash.
Police successfully seized Rs 11.5 lakh in cash and three mobile phones from the accused individuals following their arrest.