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Cyberabad police bust Transnational Crypto scam; Kadapa man arrested
A 22-year-old man from Andhra Pradesh, Pathi Manikanta, was arrested by Cyberabad police in Hyderabad for his involvement in a transnational cybercrime operation that defrauded a software engineer of over ₹52 lakh. The scheme, which involved impersonating Morgan Stanley, was operated via Telegram and WhatsApp and promised victims a 20% daily return on investment. Manikanta was responsible for trading cryptocurrency and managing mule accounts, receiving instructions from Chinese nationals and other criminal groups. The stolen assets were seized by Binance and authorities are working to recover the funds for the victim with help from the I4C. This case highlights the growing threat of cybercrime and the importance of being cautious when investing in cryptocurrency. The public is advised to verify investment offers offline and be wary of unrealistic returns.09:41 AM Feb 21, 2025 IST