Kanpur Cryptocurrency Investment Scam Exposed: ₹15 Crore Assets Frozen

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Cyber Fraud Scheme Exposed in India: Over 1,000 Victims Across 10 Countries Impacted

Law enforcement authorities in India have uncovered a sophisticated cyber fraud scheme involving over 1,000 victims across 10 countries.

According to investigators, the scheme was perpetrated by a group led by Ravindra Nath Soni, who allegedly used social media platforms and digital channels to recruit victims.

The scam, centered in Kanpur, Uttar Pradesh, allegedly involved fake investment schemes and cryptocurrency scams, resulting in losses worth millions of rupees. Initially, victims were promised unusually high returns on cryptocurrency and digital investment plans, which appeared legitimate due to small early payouts designed to build trust.

According to investigators, victims were encouraged to invest larger sums, and the perpetrators allegedly cut off all communication, leaving victims unable to recover their money.

The scheme is believed to have expanded beyond Indian borders, with victims located in multiple countries. Financial investigation has traced multiple bank accounts linked to the accused, showing transactions worth several crores. Authorities have also identified assets worth over ₹15 crore, including residential properties, land parcels, luxury vehicles, and investment-related documents suspected to be proceeds of crime.

Digital evidence gathered by investigators includes conversations, cryptocurrency transaction screenshots, bank account statements, mobile data records, and electronic communication logs.
This evidence suggests a coordinated effort to defraud victims and launder money.

The investigation remains ongoing, with officials continuing to trace additional victims and financial links. Further arrests are expected as the probe expands across national and international networks connected to the alleged scam.