Jaipur: The cyber police station of the city police Saturday arrested two fraudsters and recovered nearly the entire amount lost by a victim in a cryptocurrency scam, officials said.DCP (Crim) Abhijeet Singh said that the accused were identified as Murari Lal Saini and Ravi Kumar Meena. Police said the victim was cheated of about 10,000 USDT, a widely used stablecoin, a digital currency pegged to the US dollar and used in cryptocurrency trading—valued at around Rs 9 lakh. An amount of 9,991 USDT (Rs 8.96 lakh) was traced, recovered, and seized from the accused. Investigators said the fraudsters targeted people interested in cryptocurrency trading by posing as genuine buyers and sellers online. Using fake SIM cards and WhatsApp accounts, they gained the victim’s trust and persuaded him to transfer his digital assets into private crypto wallets controlled by them.Singh said cyber teams carried out an intensive technical investigation. Police said the stolen cryptocurrency was recovered from a “Trust Wallet” stored on the accused’s mobile phones. Although the accused destroyed several devices and initially claimed they no longer had access to the wallets, cyber experts were able to trace the digital access codes, leading to full recovery.Officials said this is among the first cases in Jaipur where recovered cryptocurrency will be returned to the victim after court approval, instead of remaining frozen as evidence for years. According to police, the complainant was trading on Binance, a global crypto trading platform, after completing identity verification. During trading, he was contacted by a person claiming to be a legal crypto trader based in Dubai. To build confidence, the fraudster first transferred a small amount of 3 USDT as a “test transaction.”After winning the victim’s trust, the accused persuaded him to move all his crypto holdings to a Trust Wallet. Soon after the transfer, the entire amount was siphoned off to another wallet, leaving the victim locked out of his assets.Police said the complaint was taken up immediately, teams were dispatched outside Jaipur based on technical location tracking, and the accused were arrested within two days. The swift arrests and near-complete recovery highlight the city police’s growing capability in tackling complex cryptocurrency-related crimes.
