Hyderabad: Hyderabad crypto job fraud came to light after Cyber Crime Police arrested three persons for allegedly stealing $21,04,089 USDT through a malicious website that impersonated a KYC platform.
Police said the accused created a fake website, Trontag.org, and enabled a smart contract to transfer cryptocurrency from the victim’s wallet to their wallet without his knowledge.
The 44-year-old male victim, a resident of Kalyan Nagar, Hyderabad, lodged a complaint with Cyber Crime Police. He stated that unknown persons approached him to purchase USDT.
According to the complaint, the suspects told him that his Tron wallet address required KYC verification before the transaction. They directed him to access the website trontag.org for verification.
Believing it to be genuine, the victim opened the link and entered his details. Subsequently, $21,04,089 USDT was transferred from his Tron wallet to the accused persons’ wallet without his consent.
Based on the complaint, police registered a case in Crime No. 129/2026 under Sections 66-C and 66-D of the IT Act, 2000–2008, and Sections 111(2)(b), 318(4), 319(2), 336(3), 338 and 340(2) of the BNS. Officers then launched an investigation.
Hyderabad crypto job fraud accused arrested across states
During the probe, investigators identified and arrested A-2 Sushim Shripati Gaikwad from Pune, Maharashtra, and A-4 Srikanth from Hyderabad. Police said both had approached the victim for purchasing USDT.
In addition, officers arrested A-3 Lucky Choudhary from Jaipur, Rajasthan, who allegedly designed and operated the malicious website impersonating a KYC verification platform.
Police alleged that the accused committed the offences in an organised manner and cheated several victims across India. Further investigation is under way to trace and arrest other absconding accused in the case.
Hyderabad crypto job fraud involved malicious smart contract
Explaining the modus operandi, police said the fraudsters first approached victims under the pretext of buying cryptocurrency such as USDT. They then directed victims to a fake KYC verification website.
The website prompted victims to connect their crypto wallets. Once the victim approved the transaction under the guise of verification, a malicious smart contract was activated.
As a result, funds were automatically transferred from the victim’s wallet to the accused wallet without further authorisation, police said.
Officers seized four mobile phones and two laptops during the operation.
The arrests were made under the direct supervision of DCP V. Aravind Babu and ACP R. G. Siva Maruthi. Inspector S. Naresh led the team, assisted by Sub-Inspectors P. Suresh and A. Shailendra Kumar, along with constables K. Rakesh, Mohd Absar and Sudharshan.
Hyderabad crypto job fraud prompts public advisory
Cyber Crime Police advised the public not to connect crypto wallets to unknown or unverified websites. They urged users to verify website URLs carefully, as fraudulent sites often mimic legitimate platforms.
Further, police recommended using only reputable cryptocurrency exchanges and official platforms. They also advised users to regularly review and revoke suspicious smart contract approvals using trusted blockchain tools.
Authorities encouraged enabling two-factor authentication wherever available. Victims of cybercrime can seek immediate help by dialling 1930 or visiting cybercrime.gov.in.