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The Delhi High Court has refused anticipatory bail to an accused in a significant Rs 1 crore cryptocurrency cyber fraud case, highlighting the necessity of custodial interrogation to dismantle an organised digital crime racket and recover the defrauded PointsThe Delhi High Court denied anticipatory bail to Gaurav in a cyber fraud case involving Rs 1 crore in Swarana Kanta Sharma observed the case prima facie pertained to an organised cyber fraud requiring custodial accused allegedly induced the complainant to transfer USDT 111,247 (approx. Rs 1 crore) by promising lucrative investment court highlighted the necessity of custodial interrogation to access digital wallets, trace proceeds of crime, and identify co-accused using encrypted pre-arrest bail would adversely affect the recovery proceedings and the ongoing investigation into the larger Delhi High Court has refused to grant anticipatory bail to a man in a cyber fraud case involving the transfer of around Rs 1 crore in Swarana Kanta Sharma observed that the case prima facie pertained to an organised cyber fraud related to digital currency, and custodial interrogation of the accused was necessary. Unravelling The Rs 1 Crore Cryptocurrency ScamAccording to the complaint, the accused, Gaurav, met the complainant through a common friend in 2024 and subsequently requested him to provide digital currency worth Rs 1 is alleged that the complainant initially declined the request, but after the accused repeatedly induced him and promised lucrative investment opportunities, the complainant transferred USDT (cryptocurrency stablecoin) 111,247, equivalent to approximately Rs 1 crore to court was informed that the cryptocurrency transfer was done from the complainants wallet to a wallet controlled and operated by the present accused, and after retaining a portion, the accused allegedly transferred approximately USDT 104,526 to his associates, including a FIR was registered by Delhi Police in 2025 for the offences of cheating, criminal breach of trust and Custodial Interrogation Is EssentialThe accused claimed that he had been falsely implicated, stating he merely acted as an intermediary between the complainant and his associates based in court stated that joining the investigation did not by itself entitle the accused to the relief of anticipatory bail, and in the absence of his custodial interrogation, the police would not be able to access the wallets or trace the complete proceeds of also noted that since the co-accused persons used WhatsApp calls and VPN-based communication to conceal their identities and locations, technical assistance from the present accused was necessary for their investigation conducted so far also indicates, at this stage, that the offence in question forms part of a larger organised cyber fraud racket involving multiple accused persons operating in coordination through digital platforms, encrypted communication applications, VPN services, and cryptocurrency wallets without KYC verification, which clearly requires detailed investigation, the court observed in the judgement passed on May , his custodial interrogation is stated to be necessary for unearthing the larger conspiracy and tracing the cheated amount, it Stance On Pre-Arrest BailConsidering the possibility of the accused absconding and that the cheated amount was yet to be recovered, the court concluded that granting pre-arrest bail at this stage would adversely affect both the recovery proceedings and the ongoing court finds no ground for grant of anticipatory bail to the applicant. Accordingly, the present application stands dismissed, it : News content is sourced from the stated source. Headlines, summaries, section headers, and images are automatically generated or selected using AI/algorithms and may not always be fully accurate. Readers are advised to refer to the full article for complete context.
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