Indian Student Arrested in Connection with $457K Crypto Fraud Scheme

Indian authorities have charged a first-year computer science student, Shaurya Singh, for allegedly facilitating a $457,000 cryptocurrency fraud operation. The Nagapur-based student reportedly supplied cybercrime tools—including SIM cards, ATM cards, and cheque books—to a group led by accused ringleader Sudhir Palande. Singh's bank account was allegedly used to process payments for hotels and other expenses, while his COINCDX exchange account served as a transactional conduit for the group.

The case highlights India's escalating struggle with crypto-related scams, which now span direct investment frauds, romance scams, and pig-butchering schemes. Law enforcement agencies are increasingly intercepting such operations, though criminals continue evolving their tactics to exploit regulatory gaps in digital asset markets.