Bandlaguda Police have arrested four persons in connection with an alleged cryptocurrency based cheating and extortion case in Hyderabad. Police said the accused allegedly lured victims through social media by offering cryptocurrency transactions and later cheated and extorted money from them.
The case came to light after Sri J.R. Chowdary, a resident of Begum Bazar, Hyderabad, approached the police on August 15, 2026, alleging that he had been cheated in the guise of a cryptocurrency transaction. He further alleged that the accused forcibly snatched ₹7 lakh from him at Ismail Nagar in Bandlaguda.
During the investigation, police developed information about the alleged involvement of a group of persons. Acting on the information, a Bandlaguda Police team went to Kings Snooker at Chandrayangutta on August 17 and apprehended four suspects.
The arrested persons were identified as:
- A-1 Saber Bin Ahmed Hadrani @ Saif
- A-2 Mohammed Abul Salam
- A-3 Mohammed Anas
- A-4 Mohammed Asif
According to police, the accused allegedly used Facebook to approach individuals and gain their confidence by offering to facilitate cryptocurrency transactions. After establishing contact, they allegedly called victims to predetermined locations on the pretext of completing cryptocurrency deals and subsequently committed cheating and extortion.
Police said the arrested suspects were also allegedly linked to four similar cases registered at Bandlaguda and Chandrayangutta Police Stations under relevant provisions of the Bharatiya Nyaya Sanhita (BNS), 2023.
Police are continuing efforts to apprehend another accused, identified as A-5 Asif, who is currently absconding. Investigators are also working to recover the allegedly extorted amount and trace the complete money trail.
Further investigation is underway to determine whether other individuals were involved and whether the group may have committed similar offences elsewhere.
The four arrested persons are being produced before the court for judicial custody.
Police have appealed to the public to exercise caution when dealing with unknown individuals offering cryptocurrency, investment opportunities or other financial transactions through social media platforms. Citizens have been advised to verify the identity and credentials of the persons involved and confirm the authenticity of transactions before transferring or handing over money.
The investigation was conducted under the supervision of A. Sudhakar, Assistant Commissioner of Police, Chandrayangutta Division. The ACP appreciated R. Devender, Inspector of Police, S. Nagaraj Reddy, Sub-Inspector of Police, Bandlaguda Police Station, and their team for their swift action and detection of the case.
Note: The allegations mentioned in this report are based on the police investigation and complaint. The accused are presumed innocent unless proven guilty by a court of law.
