Operation Octopus: Hyderabad Police Arrest 104 in ₹127 Crore Cyber Fraud Across 16 States

Hyderabad: In a massive nationwide crackdown on organized cybercrime networks, the Hyderabad City Police launched “Operation Octopus,” resulting in the arrest of 104 individuals from 16 states for their alleged involvement in large-scale financial frauds amounting to ₹127 crore.

The operation was carried out under the supervision of DCP (Cyber Crimes) V. Arvind Babu. It targeted criminal networks engaged in investment scams, trading frauds, and so-called “digital arrest” schemes that have duped victims across the country.

According to police officials, 32 special teams were constituted for the operation. Over a period of 10 days, coordinated raids were conducted simultaneously across multiple states. Among those arrested are 86 mule account holders (individuals who provided bank accounts for illegal transactions), 17 suppliers, and a relationship manager of Bandhan Bank, who is accused of facilitating internal fraud.

Follow for more details: munsifdaily.com

During the investigation, authorities identified 151 bank accounts that were allegedly used to siphon off money from victims. Police stated that the accused were linked to 1,055 cyber fraud cases registered nationwide.

The total amount involved in these frauds is estimated at ₹127 crore.

During the raids, police seized ₹36 lakh in cash, 204 mobile phones, 141 SIM cards, 152 bank passbooks, 234 debit and credit cards, and 26 laptops.

Hyderabad Police Commissioner C.V. Anand stated that cybercrime poses a serious threat to society and reiterated that the city police are following a zero-tolerance policy against such offenses. He assured that strict action would continue against those involved in cyber fraud activities.

Further investigations are underway to trace additional links and recover more funds.