How money mules powered cyber cons' ‘operating system'
cyber fraud
network by acting as "money mules" for illicit financial transactions.
Tempted by quick commissions, these individuals allow their bank accounts to be used for money laundering by cybercriminals involved in online scams and 'sextortion'. Illicit funds are then converted into cryptocurrency, primarily Tether (USDT), and transferred abroad — bypassing all legal scrutiny.
Investigations reveal that the operations are coordinated through heavily encrypted Telegram channels, often run by Chinese handlers or their Indian proxies.
Police have traced dozens of mule accounts in Lucknow, with several account holders expressing regret for underestimating the legal consequences.
Additional DCP (south zone) Vasanth Kumar said the scam came to light after the arrest of Satyam Tiwari and his gang in Lucknow on June 21. "They siphoned off Rs 75-80 lakh in the guise of cryptocurrency trading, funneling the money through mule accounts before converting it to USDT and transferring it overseas," Kumar said.
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He added that the probe revealed a wider network of foreign handlers. "The operation was conducted through Telegram channels primarily operated by Chinese nationals or their proxies. They use blockchain network for USDT trades, avoiding legal crypto exchanges. Communication is encrypted, aliases are used, and usernames change frequently to mask identities. Indian mule account holders are then appointed to stash and transfer cash," he said.
While investigation was underway, police busted another gang led by Baburao Sambhaji Mali (34) from Sangli, Maharashtra. The group allegedly defrauded a businessman of Rs 29.25 lakh through fake Facebook pages offering high-yield banana saplings.
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