Delhi Police have arrested eight men for their alleged role in an international cyber fraud syndicate that operated mule bank accounts across Delhi, Moradabad and Bareilly. Officials said the group routed stolen money to operators based in China through cryptocurrency. So far, the network has been linked to more than 600 cybercrime complaints across India and suspicious transactions worth nearly Rs 15 crore.
The investigation began after a woman from Tamil Nadu reported that Rs 6,000 had been fraudulently withdrawn from her account in September last year. Police traced the transaction to a Yes Bank account in Mayur Vihar, East Delhi, registered in the name of 25 year old Wasim, a garment worker from Ghaziabad. Further checks revealed that he controlled four mule accounts across different banks. At least 39 complaints were already connected to these accounts. A case was registered at Pandav Nagar police station on November 20, 2025.
DCP East Abhishek Dhania said, “Our team analysed the account statements of the mule accounts used in the commission as well as disposal of cybercrime proceeds. The team also analysed the internet banking IP logs of account transactions in question. On the basis of in depth analysis, the chain of the cybercrime syndicate was identified and eight accused persons were arrested.”
Police said the accused helped operate mule accounts and transferred the stolen money in cash and in USDT cryptocurrency. “Total 14 mobile devices, 20 SIM cards and seven bank debit cards belonging to Bank of Maharashtra, Indian Bank and Indian Overseas Bank including cash of Rs 4,70,000 used by the syndicate have been recovered,” Dhania added.
According to investigators, the group worked for handlers based in China who remotely accessed Indian bank accounts using SMS forwarding malware. Once money was credited into a mule account, the handlers used intercepted OTPs to move funds through multiple accounts and convert them into USDT using crypto platforms such as Binance and MetaMask. The Indian members were paid their commissions in cryptocurrency.
Each member of the gang had a specific role, from sourcing bank accounts to sharing credentials and converting funds into crypto. One accused from Bareilly is suspected to have shared details of more than 60 accounts, while another has been linked to 81 complaints. Most of those arrested had no previous criminal record.
Police said victims are being traced and more arrests are likely as the investigation expands to uncover the full international network. Over 800 people have been arrested in two days under Delhi Police Operation Gang Bust 2026.
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