MADURAI: In a crackdown on online financial fraud, the Madurai district cybercrime police arrested three men from Tiruppur for allegedly cheating a resident of ₹11.5 lakh through a cryptocurrency investment scam.

The victim, hailing from Thiruvedagam, filed a complaint earlier this year after falling prey to an online scheme promising high returns through cryptocurrency investments. Upon receiving the complaint, the Madurai rural cybercrime wing launched an investigation and tracked the accused to various locations in Tiruppur.

The arrested individuals were identified as:

  • S Hariharan (25) of Sakthi Theatre Road

  • S Sankar (35) of Poyampalayam

  • R Parasuram (29) of Unnamalainagar

During the operation, police seized mobile phones, SIM cards, and bank passbooks used in the fraudulent transactions. The trio was later remanded in judicial custody.

Preliminary inquiries revealed that the accused allowed their bank accounts to be used by cybercriminals for moving stolen funds. In return, they received hefty commissions, amounting to several lakhs.

The investigation is ongoing to determine the wider network and identify other potential victims and collaborators in the scam.