New Delhi: Delhi Police have arrested a 25-year-old man from Punjab for allegedly cheating a Shahdara resident of ₹55,000 in an online cryptocurrency scam, officials said on Sunday.
The accused, identified as Sukhpreet Singh from Ludhiana, was apprehended after police traced his involvement in a fraudulent work-from-home scheme. The case came to light following a complaint by Sangam Yadav, who claimed he was deceived by a social media group posing as a legitimate company offering paid online tasks.
According to the police, Yadav initially received small payments for completing simple assignments. However, he was later asked to deposit ₹55,100 through UPI for additional work. When he attempted to withdraw his earnings, the fraudsters demanded more money, exposing the scam.
Investigations revealed that Singh was part of several online groups engaged in cryptocurrency trading. He allegedly purchased USD Tether (USDT) at market rates and resold it at inflated prices, despite knowing that victims’ funds had been frozen or blocked due to cyber complaints.
Police said Singh used multiple bank accounts, ATMs, and digital wallets to launder the money. During a raid, three mobile phones, six SIM cards, and twelve ATM cards were recovered from his possession.
Authorities added that further investigation is underway to identify other members of the network involved in the crypto scam.
