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A group of online scammers were apprehended by the Cyberabad Cybercrime Police on suspicion of targeting individuals under the pretext of the trading application Market Box and defrauding them of millions of rupees.

Abhishek Jain (32) of Uttar Pradesh, the primary suspect, Pawan Kumar (35), a businessman from Rajasthan who provided bank accounts, Akash Roy (39), a businessman from Rajasthan who provided bank accounts, and Krishna Kumar (38), an agent for hawala collection from Uttar Pradesh, were all detained. Police seized Rs. 9.8 crore from them.

Abhishek Jain, according to Cyberabad Police Commissioner M.Stephen Raveendra, had the app Market Box created and advertised it on numerous WhatsApp and Telegram groups.

On this bogus app, there are roughly 3,000 dealers who have enrolled. According to Raveendra, the main suspect attracted consumers by promoting and advertising his trading software on several chat groups across various platforms.

He made available Pawan Kumar Prajapat's Merchant Pool Account (MPA), which was kept by a business with its headquarters in Jodhpur, for taking investments from victims. An Application Programming Interface connected this MPA to Market Box. The suspect also disclosed the regular bank accounts of colleagues from Rajasthan and Kolkata who worked with Pawan Kumar and Akash Roy.