Rs 2 crore digital fraud: 7 arrested, Rs 74 lakh cash & crypto blocked in Charumarket case

7 accused arrested, 3 in police custody until February 5, in connection with Rs 66 lakh digital fraud
Rs 74 lakh in cash seized from Utpal Sikdar’s residence, with mobile and laptop evidence seized
1,47,459 USDT (approx Rs 1.26 crore) frozen in 4 Binance wallets linked to the accused

Charumarket PS/DD Case No. 135/2024 involves a substantial digital fraud, with an amount of Rs. 66.27 lakh initially reported as defrauded. Seven individuals have been arrested to date, with three currently in police custody (PC) until February 5, 2025. The case was filed after a complaint by Smt. Shuvra Guha, which led to an investigation into the fraudulent activities.

A significant breakthrough came when Rs. 74 lakh in cash was recovered from the residence of one of the accused, Utpal Sikdar, in Krishnagar, Nadia. This cash seizure was part of the operation following the arrests, and authorities also recovered mobile phones and laptops that provided crucial leads. During the examination of these electronic devices, investigators discovered that cryptocurrency had been concealed in Binance wallets belonging to the accused.

Following the identification of the relevant Binance accounts, authorities contacted Binance, the global cryptocurrency exchange, to block the wallets. Binance responded by confirming the freezing of the funds, which were stored in the form of USDT (Tether), a cryptocurrency pegged to the US Dollar. The total amount frozen across the wallets was 1,47,459 USDT, which equates to approximately Rs. 1.26 crore based on the current exchange rate.

The breakdown of the blocked cryptocurrency is as follows:

Kumaresh Halder (Binance ID: 486280769) – 9,603 USDT
Kumaresh Halder (Binance ID: 40584998) – 1,27,392 USDT
Protap Roy (Binance ID: 522215082) – 9,602 USDT
Utpal Sikdar (Binance ID: 503315338) – 862 USDT

With the Rs. 74 lakh in cash and Rs. 1.26 crore in cryptocurrency, the total recovery in the case exceeds Rs. 2 crore. The investigation continues as authorities work to trace additional assets linked to the fraudulent activities. The cooperation between local authorities and Binance, along with the examination of digital evidence, has been critical in uncovering the scale of the fraud. The authorities are committed to continuing the investigation to ensure that all perpetrators involved in the scheme are held accountable.

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digital fraud