How Fear and Crypto Panic Fuelled a ₹50 Crore Scam in Mohali

 

🚨 How a Mohali Call Centre Swindled ₹50 Crore via Crypto Panic

1. The scam at a glance

• What happened?
  A call centre operating from a flat in Eden Court Society, Mohali (Sector 91) coaxed victims into believing suspicious crypto transactions were draining their bank accounts—then pressured them to transfer money to “secure” their assets en.wikipedia.org+12indianexpress.com+12timesofindia.indiatimes.com+12.

• The scale:
  Over a six‑month spree, the syndicate defrauded people across India of around ₹50 Crore, using day and night shifts to run the operation indianexpress.com+1timesofindia.indiatimes.com+1.

2. Modus Operandi: Fear as bait

1. Victims received mass texts alleging unauthorised crypto deductions.

2. A phone number was provided to “resolve” the issue—with urgency implied.

3. Fraudsters impersonated officials, invoking digital arrest tactics.

4. Victims were coerced into transferring funds under false pretenses—via vouchers, gift cards, or direct transfers timesofindia.indiatimes.com+4indianexpress.com+4indianexpress.com+4timesofindia.indiatimes.com.

3. The Mohali bust

Led by DSP Rupinder Kaur Sohi, Mohali’s Cyber Crime Cell raided the flat and arrested eight individuals from across India. They seized:

• 12 laptops

• 14 mobile phones

• A Scorpio SUV used in operations 

An FIR was registered under Bharatiya Nyaya Sanhita sections for cheating, criminal conspiracy, and IT Act provisions . Investigators continue probing to uncover the kingpin and possible expansion beyond Mohali.

4. Why Mohali? A growing cyber-crime hub

• This marks the fifth significant cyber-fraud bust in Mohali since May 2024.

• Similar scams involved fake PayPal alerts, customs seizures, investment schemes—and many targeted foreign nationals 

5. What this means for you

• Crypto isn’t a shield: Fraudsters are using cryptocurrency as a fear tactic—not necessarily to steal crypto, but to manipulate through urgency.

• Stay vigilant: Never trust unsolicited messages claiming suspicious activity. Don’t call provided numbers—always contact your bank or exchange via official channels.

• Report quickly: Save records and report to the National Cyber Crime Reporting Portal or local cyber cells at the first sign of unusual activity.

Reff:- indianexpress

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