FPJ Cyber Secure: For The First Time in India, MBVV Police Records Recovery Of ₹36 Lakh From Overseas Cybercons

Mira Bhayandar: In a first of its kind overseas recovery related to online fraud in India, the cyber cell attached to the Mira Bhayandar-Vasai Virar (MBVV) police claim to have recovered ₹36 lakh from the e-wallet of a Chinese national after sustained investigations and judicial intervention related to a case of crypto currency fraud which was reported in 2022.

According to the cyber cell officials, they had received a complaint from a mobile trader Yogesh Jain who was duped of ₹33.65 lakh (39,596 USDT) by cyber criminals on the pretext of investment in cryptocurrency between February to May in 2022.

How the crypto fraudsters trapped the victim

After being added to a WhatsApp group by the admin who identified herself as Amy, Jain was convinced into making investments on a cryptocurrency exchange platform. As directed, Jain downloaded a mobile application to create a crypto trading account and invested small amounts by transferring money to a crypto wallet which is used to store electronic funds by converting into USDT.  The operators provided small profits on initial few investments. A few days later the admin suggested he hire an expert advisor who can give tips to earn profits in exchange for a 20 percent commission. Based on the inputs by the advisor who identified himself as Mark, the complainant invested ₹33.65 lakh (39,596USDT).

The Cyber Team Investigation

While the balance in his wallet soared to 2,47,210USDT, he was unable to withdraw the money as the app was frozen. The cyber cell team led by police inspector Sujitkumar Gunjkar and PSI  Prasad Shenolkar under the supervision of Commissioner Madhukar Pandey started investigations into the matter. The team scanned various crypto-operating platforms and zeroed in on a suspicious wallet registered with a well-known global cryptocurrency spot and derivatives exchange in Seychelles (East Africa). The wallet which had mostly Hongkong-based users in the contact list, belonged to a Chinese national. After getting permission from the court, the team established contact with the exchange revealing the nature of fraud while seeking refund. "On June 13, the exchange positively responded to the request and transferred 39,596 USDT (now ₹36 lakh) directly to the complainant's account. This is the first time such an action has been taken in India to recover the defrauded amount from a Chinese citizen,” claimed Gunjkar.

Cyber crimes cracked despite limited manpower

The cyber cell has received 1,255 complaints from January 1 to May 31, 2023. The complaints include financial frauds, social media hacking, fake accounts, harassment and stalking. However, despite operating with limited manpower, the cyber cell has managed to recover more than ₹80.92 lakh lost by the victims in the corresponding period. Notably, the total number of cybercrime complaints received by the cell had leaped by more than three times from 794 in 2021 to 2,738 in 2022 across all 17 police stations which fall under the jurisdiction of the MBVV police. In the wake of an alarming rise in cybercrime cases, the total number of such crimes is estimated to touch 3,000 this year. While ₹91.94 lakh was recovered in 2021, the figures stood at ₹28.80 lakh in 2022.