Bettiah: Bagaha Cyber Police on Thursday uncovered an alleged international cyberfraud and money laundering network operating through a fraudulent online trading platform in West Champaran, arresting five individuals. The arrests were made during raids in Harnatad and Rampur under Laukaria police station limits.
Fake Investment Scheme Busted
Police stated that the accused were running a deceptive investment scheme through an app called DSJ Exchange, promising to double investors' money within 54 days. Preliminary investigations indicate that approximately 500 to 600 people may have fallen victim to the scam.
Modus Operandi
According to investigators, the syndicate used WhatsApp and Telegram groups to circulate links and persuade people to download applications such as Bonchat, Binance, Blofin, and Tronlink Pro. Victims were encouraged to invest a minimum of Rs 30,000 through cash payments or UPI transfers.
Police alleged that the accused displayed fake cryptocurrency balances and used coded messages to create the illusion of genuine trading activity. The operation reportedly functioned through a referral-based network in which participants earned incentives for recruiting new investors, a model investigators said resembled a Ponzi scheme. The gang is also suspected of using online gaming applications, including Tiranga and BDG, to attract users with initial winnings before encouraging larger investments.
Seized Evidence
During the operation, police seized five mobile phones, a diary, and digital documents linked to the fraud. Investigators also found a similar case involving the same network had earlier been registered in Surat, Gujarat.
Police Statement
Bagaha Superintendent of Police Ramanand Kaushal said: “The investigation indicates that the accused were using cryptocurrency transactions and referral-based investment schemes to conceal the movement of funds. We are examining digital evidence and financial trails to identify the wider network and other beneficiaries involved in the racket. People should verify the authenticity of online investment platforms before transferring money.”
The cyber police are continuing their investigation to trace the full extent of the network and recover defrauded funds.
