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## Three Individuals Arrested in Odisha for Cryptocurrency Investment Scam

The Cyber Crime Unit of Odisha’s Crime Branch made a significant breakthrough on Wednesday by apprehending three individuals involved in a cryptocurrency investment scam. The accused, identified as Sumit Kumar Das, Amiya Ranjan Satpathy, and Sidharth Satpathy, were directors of prominent Fintech companies, allegedly aiding cybercriminals in transferring funds to virtual accounts.

The arrest came after a victim reported a suspicious WhatsApp call in May 2023, leading to a chain of events orchestrated by the fraudsters. The victim was persuaded to subscribe to a YouTube channel promising lucrative profits and then directed to a Telegram contact for further instructions. Seduced by the prospect of high returns, the victim ended up depositing a substantial amount of Rs 54.75 lakh between May 6th and May 23rd, 2023.

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## Complaints on the National Cyber Crime Portal Linked to the Directors

After facing demands for additional funds without any returns, the victim sought assistance from the Cyber Police Station at Crime Branch Cuttack. Subsequently, an investigation was initiated under the pertinent sections of the IPC and IT Act to unravel the intricate web of deceit spun by the fraudsters.

Further scrutiny through online verification of the National Cybercrime Reporting Portal (NCRP) revealed a startling revelation. Besides this particular case, a total of 26 complaints were registered against the bank account of Fynpe and 18 complaints against PayInc across various regions of India. This pattern of fraudulent activities led to the eventual arrest of the three accused individuals on Wednesday.

## Rising Concerns Over Investment Scams via Messaging Platforms

The press release issued by the Cyber Crime Unit shed light on the alarming surge in investment scams perpetrated through popular messaging platforms like WhatsApp and Telegram. Fraudsters bait unsuspecting victims with unrealistic promises of returns, coercing them to transfer funds into designated accounts. As a cautionary measure, the Cyber Crime Unit urges the public to exercise vigilance and discernment when engaging in online investment endeavors, mitigating the risks associated with financial fraud.

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