Telangana Police Seize Rs 10 cr From Cybercriminals

Hyderabad: Cyberabad police have arrested four cyber criminals from Rajasthan and Uttar Pradesh for allegedly siphoning off crores of rupees in the name of investing and trading through market box app. CyberabadStephen Ravindra said Rs 9.81 crore has been recovered from the accused. This is the first time that such a large amount of cash has been recovered," he said, while revealing the details of the case to the media on Monday.

#Cyberabad #cybercrime police of #Hyderabad seized nearly ₹10 crore cash, arrested a gang of 4 fraudsters from #UttarPradesh and #Rajasthan, who were cheating innocent people in the name of Online Trading by #MarketBox #trading App, its biggest #CashSeized by #Telangana police. pic.twitter.com/d29Vz8ANnl

— Surya Reddy (@jsuryareddy) August 29, 2022

"Innocent people are being cheated in the name of business and investment through the Market box app. Four of the 10-member gang have been arrested.Common people were convinced that they would get double returns from the investments.A person invested Rs 62 lakh and lost Rs 34 lakh. About 3,000 people have subscribed to the app.However, The market box app is not registered with SEBI,"the Cyberabad police chief said.

He also urged people not to believe in phone and mail messages in the name of banks and investment apps.

Also Read: NCRB 2021 Report: Telangana Ranks First In Cyber Crimes