Chandigarh/New Delhi, October 13 — The Delhi Police have arrested a 25-year-old man from Punjab’s Ludhiana for allegedly duping a Shahdara resident of ₹55,000 in an online cryptocurrency scam, officials said on Sunday.
The accused has been identified as Sukhpreet Singh, who police say was part of a wider online network operating fraudulent “work-from-home” schemes through social media.
The arrest followed a complaint by Sangam Yadav, a resident of northeast Delhi’s Shahdara, who alleged that he was added to a social media group posing as a legitimate company offering paid online tasks. “The victim was initially given small commissions for minor assignments, which built trust. Later, he was asked to deposit ₹55,100 through UPI for higher-paying work,” a senior police officer said.
When Yadav tried to withdraw his earnings, the group demanded additional payments, exposing the fraud. The victim then approached the police, who traced the money trail to accounts linked with Sukhpreet Singh.
According to investigators, Singh bought USDT (Tether) — a cryptocurrency — at market value and resold it at inflated prices to unsuspecting victims, even though he was aware that the funds were blocked or flagged due to cyber complaints. “He used multiple bank accounts, ATMs, and digital wallets to circulate and withdraw the defrauded amount,” the officer said.
During a raid at his Ludhiana residence, police seized three mobile phones, six SIM cards, and 12 ATM cards allegedly used in the scam. “The accused was brought to Delhi for questioning. We are investigating his links with other members of the fraud network and tracing additional victims,” the official added.
Police said Singh’s arrest is part of an ongoing crackdown on cybercrime syndicates that lure victims through social media with fake investment and task-based earning schemes. Further investigation is underway to determine the extent of the scam and identify others involved.
