Indian police have arrested a medical student for allegedly transferring a substantial amount of money to a Chinese gang using a cryptocurrency exchange.
Charges and Arrest
Vikram Vishnoi, a third-year student at Government Medical College in Maharashtra, has been arrested for allegedly transferring ₹8 lakhs (approximately $9,378) to a gang of young Chinese nationals. He reportedly converted fraudulently obtained funds into cryptocurrency and sent them via the Binance exchange.
Fraud Scheme
The arrest followed an investigation into a case where a software engineer was defrauded through a tactic described as a 'digital arrest.' Vishnoi facilitated cyber fraud transactions by providing Indian bank accounts to the Chinese gang in exchange for commissions. He connected with five Chinese nationals via Telegram and used it to convert the proceeds to cryptocurrency and transfer it to a Chinese person's crypto wallet alias 'TLX.'
Investigation and Cooperation
Police have reached out to Telegram and Binance to gather more information on these transactions as part of their ongoing investigation.
An investigation is underway as authorities continue to uncover the details of this case.
