Andhra CID Busts International Crypto Fraud, Victim To Get Rs 15 Crore Refund

In a major breakthrough against transnational cybercrime, the Andhra Pradesh Crime Investigation Department (CID) has dismantled an international cryptocurrency investment fraud involving approximately USD 1.5 million (nearly Rs 15 crore) and secured a court order for the return of the frozen assets to a victim from Tenali in Guntur.

The case was registered at the CID Police Station, Mangalagiri, Amaravati, involving a victim who was allegedly lured into investing in cryptocurrency through promises of exceptionally high returns.

International Network Exposed

Investigators found that the fraud syndicate routed the proceeds through multiple non-custodial cryptocurrency wallets and suspected fraudulent platforms, including Honeycombapi.org and Alibarbit.bit, to conceal the movement and origin of funds.

Using advanced blockchain analysis and coordination with the Indian Cyber Crime Coordination Centre (I4C), the CID traced the transactions and uncovered an international network with alleged links to Hyderabad in Telangana, Maharashtra, Malaysia, China and Portugal.

According to the CID investigation, the accused operated an organised transnational cryptocurrency investment fraud by luring the victim, a resident of Tenali, with promises of exceptionally high returns on cryptocurrency investments.

After gaining the victim's confidence, the syndicate allegedly diverted the invested money through multiple non-custodial cryptocurrency wallets and fraudulent online platforms, including Honeycombapi.org and Alibarbit.bit.

The funds were moved across several wallets and international channels to conceal their origin, trail and ultimate beneficiaries, making it difficult to trace the money. Using advanced blockchain analysis and coordination with the Indian Cyber Crime Coordination Centre (I4C), investigators tracked the transactions and unravelled the international network.

Accused Details

The CID arrested eight persons in connection with the case, with the accused network spanning Hyderabad, Maharashtra and overseas locations, including Malaysia, China and Portugal.

The investigation established the involvement of an organised cross-border network in routing and concealing the proceeds of the alleged cryptocurrency fraud.

Following the arrests, the CID filed a charge sheet before the competent court.

Further, the Special Court for CID Cases, Guntur, passed a Return of Property Order on October 30, 2026.

The court directed Cayman Islands-based cryptocurrency exchange Gate Global Corp. to convert the frozen cryptocurrency assets held in four linked accounts into USDT and transfer the entire amount to the victim.