Jaipur Police Arrest 2 in ₹100 Crore Crypto Scam Case
Jaipur police arrested two men over an alleged ₹100 crore digital coin fraud, and Dehradun police booked six over a ₹1.55 crore loss. The red flags.
Police in Jaipur have arrested two men over an alleged ₹100 crore cryptocurrency and property investment fraud, with the arrests made public on Friday, 2 October and Saturday, 3 October 2026. In a separate case reported on 2 October, Dehradun police registered an FIR against six people after a Clement Town resident said he lost about ₹1.55 crore on crypto and forex trading platforms. Both promised fixed monthly returns.
Key takeaways
- Jaipur's Sodala police arrested the alleged mastermind, aged 27, in Gurugram, and then a 35-year-old associate. Police put the total alleged fraud at about ₹100 crore.
- The Jaipur complainant says he lost ₹5.55 crore: ₹1.55 crore paid by cheque and ₹4 crore in cash.
- Police seized a Mercedes valued at about ₹1.25 crore and a Triumph motorcycle, and froze a ₹1 crore fixed deposit.
- In Dehradun, investors were promised 5% to 8% a month, and up to 15% on longer lock-ins. The FIR invokes the law against unregulated deposit schemes.
- Crypto is legal in India, but exchanges serving Indians must register with FIU-IND. Fixed monthly returns are a warning sign, not a feature.
The Jaipur case: what police said
Sodala police station in-charge Manoj Berwal said the accused opened an office in Jaipur's Vaishali Nagar in January 2025 and ran it for about a year before shutting it in January 2026. They promoted two websites under the Flinty name, asking people to put money into digital coins and property deals for high returns, and found investors through personal and family networks.
DCP (South) Rajrishi Raj said the alleged mastermind was arrested in Gurugram, Haryana, and his questioning led police to the second accused, who was picked up from his home. Each carried a reward of ₹2,000. The main complainant says he was promised repayment by 1 January 2026; when that date passed, he could not reach the accused. Officers are tracing the money and looking for more victims and other members of the group.
| Jaipur case | Detail |
|---|---|
| Police station | Sodala, Jaipur |
| Arrests | 2 (aged 27 and 35) |
| Alleged total fraud | About ₹100 crore (about $10.4 million) |
| Main complainant's loss | ₹5.55 crore (₹1.55 crore cheque, ₹4 crore cash) |
| Office active | January 2025 to January 2026 |
| Seized or frozen | Mercedes (about ₹1.25 crore), Triumph motorcycle, ₹1 crore fixed deposit, computers and phones |
The Dehradun case
Clement Town police registered the FIR against six people after the complainant said he invested between April 2024 and February 2025 across platforms named BotBro, BotAlpha, Cross Market, Mine Crypto and TLC Coin, along with a MetaTrader 5 forex account. He was promised monthly interest of 5% to 8%, and up to 15% for money locked in for longer. When he tried to withdraw, he was told to pay more for duties and charges first. His total loss came to about ₹1.55 crore.
The case has been filed under the Bharatiya Nyaya Sanhita sections for cheating (318(4)) and criminal conspiracy (61(2)), along with Section 21 of the Banning of Unregulated Deposit Schemes Act, 2019. Police said the main accused already faces an earlier case in Dehradun, filed in August 2026, in which about 160 investors alleged losses of roughly ₹12 crore.
Why it matters for Indian investors
Both cases follow the same script: a fixed monthly return, a friendly introducer, a private website or app, and a demand for more money before any withdrawal. The maths alone should raise doubts. A return of 5% a month works out to about 80% a year with compounding, 8% a month to about 150%, and 15% a month to more than 400%. No genuine crypto product can promise that, because coin prices, such as bitcoin at ₹8,096,152 on our Bitcoin price in INR page, move every day.
Before you send money, check that the platform is on the list of FIU-registered crypto exchanges in India. FIU-IND had 54 registered VDA service providers as of 9 March 2026, as the government told the Lok Sabha on 30 March 2026. There is no RBI licence for crypto exchanges, so any platform claiming one is misleading you; our page on RBI approval claims explains this. Our checklist on how to avoid crypto scams in India covers the other warning signs.
If you think you have been cheated, call the cybercrime helpline on 1930 or use the National Cyber Crime Reporting Portal quickly, while money may still be frozen. Our guide on how to report a crypto scam in India walks through the steps.
What to watch next
- Jaipur: whether police make more arrests and how much of the ₹100 crore they can trace and freeze.
- Dehradun: whether arrests follow the FIR, and whether the earlier ₹12 crore case is linked.
- Policy: Parliament's Standing Committee on Finance, chaired by Bhartruhari Mahtab, is preparing its report on virtual digital assets. Our coverage of the finance panel and the government's response explains where things stand.
FAQ
What is the Jaipur ₹100 crore crypto scam?
Jaipur's Sodala police say two men ran websites under the Flinty name that took money for digital coin and property investments with promises of high returns. Police estimate the total alleged fraud at about ₹100 crore and arrested two people, with the arrests reported on 2 and 3 October 2026.
How do I check if a crypto platform is legal in India?
Check whether it is registered with FIU-IND, which had 54 registered VDA service providers as of 9 March 2026. Be wary of any platform that promises fixed monthly returns or claims an RBI licence, since the RBI does not license crypto exchanges.
Where can I report a crypto fraud in India?
Call the cybercrime helpline on 1930 or file a complaint on the National Cyber Crime Reporting Portal, then register an FIR at your local police station. Report quickly, because funds are easier to freeze before they move.
This article is AI-assisted, educational and general in nature. It is not financial advice and never a guarantee of profit. Every trade is at your own risk on your own exchange. See our risk disclosure and editorial policy.
