Odisha Cyber Police busts an online fraud case involving fake ‘VIP Trading Account’ scam
Cuttack: By thwarting an online fraud case involving a phony “VIP trading account” scam, the Odisha Cyber Police, under UPD Cuttack, have made a major advancement in the fight against cybercrime. One individual was taken into custody by the police in relation to the case.
DCP Khilari Rishikesh Dnyandeo stated, “A complaint was filed at the Cuttack UPD Cyber Police Station. Balasore was the victim’s hometown. He found a VIP trading connection on Telegram. He moved almost 768,000 six times between November and December 2024 because he was lured by this. The individual who had been in touch with the victim thereafter ceased doing so. After that, the victim complained.
The culprit was taken into custody by Bhadrak police, who also found several checks, twelve ATM cards, five SIM cards, and numerous cell phones. In addition, the police confiscated 230,000 rupees.
DCP Khilari Rishikesh said, “I would like to appeal to the people to avoid investing in trading accounts and be cautious of such frauds.”
Authorities are warning individuals to exercise caution when making investments online in light of the probe, which underscores the region’s rising worries about cybercrime. The authorities are still looking into the fraud and trying to find out additional information. Investigations are still in progress.
In the meanwhile, the State Cyber Crime Cell and the cybercrime teams in Ahmedabad, Surat, Rajkot, and Vadodara, Gujarat, have arrested people engaged in Chinese cyber gangs and digital arrest scams and solved 12 significant cases in the last 15 days.
Six members of a Chinese-led cybercrime group operating out of Nepal and Cambodia were taken into custody by the Ahmedabad Cyber Crime Branch on May 16, 2025. They committed crimes such as digital arrest, investment fraud, and Telegram task fraud while holding Pranay Bhavsar hostage in a hotel in Nepal for six days after hacking his ICICI Bank account and making transactions totaling Rs48.85 lakh. On the NCCRP site, there are more than 200 complaints filed against the defendant.
Janak Bhalala and Bhavesh Borad were arrested in Surat on May 14, 2025, for using digital arrest to swindle a lady out of Rs14.94 lakh by posing as Mumbai Cyber Crime authorities. Dilip Jagani was also taken into custody for his involvement in seven cyber fraud instances, including frauds and phony papers. He worked with Nepali Cambodian, and Chinese nationals to use bank accounts to launder money.