In a late-night operation on March 1, Assam Police arrested three individuals involved in a large-scale cyber scam linked to an illegal crypto scheme. The crackdown, led by DySP (DSB), DySP (B), and SI (P) Ishan Jyoti Saikia, took place in the Fakirganj Police Station area under the supervision of the ASP Headquarters.
The arrested individuals—Asadul Islam (25), Hashanur Zaman (28), and Kobad Ali Mollah (28)—were allegedly running a fraudulent financial scheme under the name RSN Crypto Currency Token. Investigators revealed that the scam deceived over 2,000 victims in Assam and the neighboring state of Meghalaya.
Victims were enticed into investing a minimum of Rs 50,000, with total misappropriated funds estimated between Rs 10-20 crore. The accused lured investors by sharing a website link and promoting an RSN game that promised a 2% return on investment. However, authorities determined that it was a bogus cryptocurrency scheme designed to siphon funds from unsuspecting investors.
According to police sources, the fraudsters used online payment platforms such as PhonePe and Paytm to collect funds. The money was then converted into USDT (US Dollar Tokens) via Chinese crypto exchanges, including Binance, before being transferred to undisclosed international accounts.
Additionally, the accused were found to be renting bank accounts to other cybercriminals across India, charging between Rs 1,000 and Rs 2,000 per account per month.
During the raid, police seized eight mobile phones, two laptops, and eleven SIM cards, which contained crucial evidence related to the scam. Upon interrogation, the suspects admitted to orchestrating the fraudulent scheme, manipulating crypto values, and coercing victims into investing.
Authorities are also searching for another key suspect, Hekmot Ali Sarkar, believed to be the mastermind behind the operation. Investigators have sought assistance from the Indian Cyber Crime Coordination Centre (I4C), which traced the scam’s URL links to China. Further analysis revealed that the fraudulent website was hosted on Amazon servers.
An FIR has been registered, and the arrested individuals remain in police custody as authorities work to identify additional perpetrators and track their financial trails. The police have urged the public to remain cautious of such fraudulent investment schemes and report any suspicious activities to the cybercrime helpline.
Editorial Note: This news article has been written with assistance from AI. Edited & fact-checked by Harshajit Sarmah.
