Cuttack: In a dramatic turn of events, Cuttack police arrested 32 individuals, most of them from West Bengal, after uncovering a cryptocurrency fraud that spiraled into a kidnapping case. The arrests were made following a raid at a hotel in the Sikharpur area on Thursday, officials said.
According to preliminary investigations, four people, including one from Bhubaneswar, allegedly lured investors with promises of high returns through cryptocurrency trading platforms. After duping several individuals, mainly from West Bengal, the accused went into hiding near Puri, police said.
However, the situation took an unexpected twist when some of the cheated investors tracked down the alleged fraudsters, abducted them from Puri, and brought them to a hotel in Cuttack, where they were held against their will.
Acting on intelligence inputs, police raided the hotel and rescued the abducted individuals while detaining all 32 people involved in the incident.
Cuttack DCP Khilari Rishikesh Dnyandeo said, “We will investigate the case from two angles — cryptocurrency fraud and kidnapping. The team will also verify if any investors from Odisha have fallen victim to this racket.”
During the operation, police also seized four high-end cars, suspected to have been used in the crime. The investigation is ongoing to determine the scale of the fraud and the extent of investor losses.
