Delhi Police Dismantle Crypto Queen's Telegram-Based Fraud Network Using USDT Laundering

Indian police have dismantled a sophisticated cryptocurrency fraud syndicate, arresting five individuals including the ringleader dubbed “Crypto Queen,” who orchestrated a Telegram-based scam targeting job seekers. The operation, uncovered by Delhi police, involved fraudulent work-at-home schemes, digital money laundering, and the exploitation of unregulated crypto markets. Victims were lured by promises of remote employment, only to be ensnared in a scheme where they performed fake tasks for commissions while their personal and financial details were stolen. One victim reportedly lost over 17 lakh rupees, with the syndicate siphoning additional funds through unauthorized personal loans totaling 8.8 lakh rupees [1].

The scam leveraged Telegram and WhatsApp for coordination, using stolen bank credentials to funnel money through “mule accounts”—dozens of which were identified during the investigation. Funds were then converted into USDT Tether cryptocurrency to obscure their origins. Key figures in the operation included Krish, who controlled the flow of illicit funds and coordinated with cryptocurrency buyers, and Deepa, who recruited account holders to facilitate transactions [1]. Gaurav and Manthan acted as intermediaries, with the latter receiving 50,000 rupees in exchange for allowing the syndicate to use his bank account [1]. The group’s digital communication and cross-border crypto transactions made detection challenging, according to authorities.

Nidhi Agarwal, alias “Crypto Queen,” emerged as a central figure in the laundering process. Police allege she operated as an unlicensed crypto dealer, purchasing USDT at wholesale prices through international channels and reselling it for profit. Her lack of formal authorization for such activities underscored the role of informal, cross-border networks in enabling the scam [1]. The syndicate’s operations were described as part of a broader international conspiracy involving foreign Telegram handlers and unregulated crypto traders, with Delhi police emphasizing the complexity of tracing funds across borders [1].

The case highlights vulnerabilities in India’s digital financial ecosystem, where rapid adoption of mobile payment platforms and cryptocurrencies has outpaced regulatory frameworks. While UPI and Telegram are widely used for legitimate purposes, their integration into scams demonstrates how bad actors exploit anonymity and ease of transaction. Authorities noted that the suspects’ use of encrypted messaging apps and crypto conversions exemplified a growing trend in cybercrime, where traditional financial systems are bypassed entirely [1].

Delhi police confirmed that the investigation remains ongoing, with efforts to identify additional accomplices and recover stolen funds. DCP (North) Raja Banthia stated the operation revealed a “larger conspiracy” involving foreign operators and international laundering networks, signaling the need for enhanced cross-border cooperation to address such crimes [1]. The case adds to global concerns about crypto’s dual role as both an innovation driver and a tool for illicit activity, particularly in jurisdictions where regulatory oversight lags behind technological advancement.

Source: [1] [title: Indian Police Dismantle Crypto Queen Scam Syndicate] [url: https://www.livebitcoinnews.com/indian-police-dismantle-crypto-queen-scam-syndicate/]