Telangana Police Busts Rs 547 Crore Cyber Fraud Ring, 18 Arrested; Crypto Used to Send Funds to Cambodia

• Khammam police in Telangana arrested 18 'mule account' holders linked to an international cyber fraud racket.
• The ring allegedly laundered and diverted Rs 547 crore overseas, using cryptocurrency to send funds to Cambodia.
• Four prime suspects, P Manoj Kalyan, U Vikas Chowdary, Bhanu Priya, and M Satish, are still at large.
• The accused recruited young people under false employment pretenses to acquire bank accounts for money laundering.
• Since 2022, significant amounts, including Rs 114 crore to Kalyan's account, were processed through this network.

Why It Matters: Telangana police dismantled a major cyber fraud operation, arresting 18 and exposing a Rs 547 crore crypto-laundering scheme.