A trader who was planning to import hotel equipment from China lost Rs 17 lakh after being lured into a fake cryptocurrency transaction. City police have now arrested 12 men in connection with the robbery, which was allegedly planned under the guise of converting cash into cryptocurrency.
Trader was looking to import hotel equipment
According to police, Vishwas Y (31), a resident of Kodigehalli and a software professional, was preparing to open a hotel near Sira on the Bengaluru-Pune Highway. While researching ways to purchase kitchen equipment and other materials from China, he found that online purchases required payment in cryptocurrency.
On a friend’s suggestion, Vishwas joined a WhatsApp group named Crypto India F2F, where he came into contact with a man identified as Muja. Police said Muja initially helped him convert Rs 2.5 lakh into cryptocurrency, earning Vishwas’s trust.
Robbery planned during second transaction
Encouraged by the successful first deal, Vishwas later approached Muja to convert Rs 17 lakh. Muja allegedly asked him to meet on Kalpana Chawla Road at around 10.30 pm on June 9.
Vishwas arrived with his brother, Chayapati, carrying the cash. While they were speaking with Muja, a group of men arrived on two-wheelers, assaulted the brothers, snatched the bag containing Rs 17 lakh and fled from the spot.
Twelve accused arrested
Following an investigation, city police arrested 12 accused identified as Kareem Khan (31), Waseem Khan (40), Mohammed Ismail (29), Rehan A (27), Suhaib Javid (20), Ayan M (21), Akheel Mohammed (26), Tausif (26), Liyaqath Sharif (33), Afzan Khan (27), Mujameel (23) and Imran Pasha (25).
Most of the accused are residents of DJ Halli and KG Halli, while Suhaib and Ayan are natives of Kashmir. Investigators said several of the accused were college dropouts engaged in odd jobs. Further investigation is underway.