12 Arrested in Bengaluru for Rs 17.64 Lakh Robbery During Fake USDT Cryptocurrency Deal

Police have arrested 12 persons for allegedly assaulting and robbing a man of Rs 17.64 lakh on the pretext of converting Indian currency into USDT cryptocurrency . Authorities have recovered Rs 13.90 lakh in cash , along with six two-wheelers, a car and 13 mobile phones allegedly linked to the crime.

The case came to light after a resident of Kodigehalli filed a complaint at Sanjaynagar Police Station on June 10. The complainant, who was planning to start a cafe, had been searching online for kitchen equipment and was informed that items could be purchased from countries like Japan and China through cryptocurrency payments.

Police said the victim joined a WhatsApp group related to USDT trading after learning about cryptocurrency from a friend. One of the accused members contacted him and successfully exchanged Rs 2.50 lakh into USDT on June 8.

Seeking a larger transaction, the victim contacted the same person the next day to exchange Rs 17.64 lakh . He was allegedly called to Kalpana Chawla Road in Sanjaynagar on June 9 night, where the accused allegedly took the cash without transferring any cryptocurrency and assaulted him, his brother and a friend before fleeing.

Acting on leads from informants, police apprehended four accused near Devasandra on June 11 . During interrogation, they allegedly confessed to carrying out the robbery with eight other associates.

The remaining accused were later arrested based on information gathered during questioning. One suspect is still absconding, and police said efforts are underway to trace him. Further investigation is in progress.