Indian Police Investigates 'TLC 2.0' Crypto Scam Involving Tens of Millions of Rupees

Police in Assam, India, arrested a man in connection with a cryptocurrency scam in the early hours of Thursday morning. It was reported that three victims have approached the police, with tens of millions of Indian rupees involved.

Prior to this, the police had arrested two other suspects in connection with the cryptoscam, Nur Alom Ahmed and Akheruzzaman Ahmed. The police got information about the third suspect, Mohabur Rahaman Ahmed, through the interrogation of the duo, and launched an arrest operation against him in the wee hours of last Thursday in Salmara-Mankachar, Assam.

The police also seized a cell phone, a laptop, ten ATM cards, two passbooks, five cheque books, two ATM swipe machines, and Rs. 25 lakh in cash during this operation.

Resouce said that the police had a lot of evidence that directly proved Mohabur Rahaman Ahmed's involvement in the cryptocurrency scam known as 'TLC 2.0' (also known as 'Trillionaire Crypto').

TLC 2.0 was a cryptocurrency scam that operates through a multi-level marketing. According to the police, the scam used “AI-based forex trading” to make false promises to investors about high returns.

The investigation revealed that Mohabur Rahaman Ahmed was the key middleman in the cryptocurrency scam. He was not only the underling of the other two suspects, but also developed other new investors as his underlings. This web of fraud gradually expanded locally through transactions between multiple bank accounts.

The authority is tracing the mastermind Lavish Chaudhury, who is financially linked to the scam, as well as more downlines connected to the cryptocurrency scam.