Cyber Crime Police Bust Honey Trap Racket, Netting 15.5 Crore in Global Scam

Punjab's State Cyber Crime Police have cracked a multi-million-dollar honey trap racket that duped people with explicit live streaming on a banned website. The ringleaders, numbering six, allegedly swindled 15.5 crore rupees using platforms like Stripchat and Suncrypto, and USDT (Tether) cryptocurrency. The group used private wallets to launder funds, and linked 103 users across various virtual digital asset (VDA) platforms. The authorities have detained some of the accused but are still searching for four more. Further investigation is underway to determine the exact number of victims and the extent of international involvement.

Key Takeaways:

• Six individuals, namely Mankirat Kaur, Diljot Kaur, Mohammad Anas, Arzoo Matto, Parwinder Kaur, and Gurcharan Singh Sidhu, were arrested for allegedly duping people of Rs 15.5 crore through a honey trap racket.
• The accused operated since October 2023, using platforms such as Stripchat, Suncrypto, and Indian Virtual Digital Asset (VDA) apps to launder money.
• The group used private cryptocurrencies and online platforms to conceal the money trail and convert digital tokens into USDT (Tether).
• At least 103 users linked to the racket were identified across different VDA platforms.
• Inspector Gaganpreet Singh noted that the modus operandi was to lure people into explicit live sessions and convert payments into digital currency to evade detection.
• Further arrests are expected, and efforts are being made to track the remaining suspects and recover the defrauded money.

Statistics:

• The accused allegedly duped people of Rs 15.5 crore.
• The honey trap racket was operational since October 2023.
• 103 users linked to the racket were identified across various VDA platforms.
• The group used various platforms, including Stripchat, Suncrypto, and Indian Virtual Digital Asset (VDA) apps, to launder money.
• The total amount of money laundered through digital tokens is estimated to be around Rs 15.5 crore.

Sources:

• "State Cyber Crime Police bust honey trap racket, netting 15.5 crore in global scam." TIMES NEWS NETWORK.