Dhubri’s ₹200 Cr crypto scam traced to Dubai; two held, more arrests likely
Police uncover ties between arrested suspects and Dubai-based Lavish Chaudhury, accused in a ₹500-crore Himachal crypto scam
The accused Akheruzzaman Ahmed (26) and Nur Alom Ahmed (27) with the police team. (AT Photo)
Dhubri, March 5: In a major crackdown, the South Salmara-Mankachar Police have uncovered international links to a massive cryptocurrency-based, multi-level marketing (MLM) scam, which defrauded thousands of investors across Assam.
The investigation led to the arrest of Akheruzzaman Ahmed (26) and Nur Alom Ahmed (27) from Tumni Simlakandi village in the early hours of March 4, following a General Diary Entry (GDE No. 21 dated 04.03.2025).
The duo allegedly lured investors with false promises of 5-6% monthly returns through AI-powered forex trading platforms under names like Bot-Bro, Algo-Bot, and Bot-Alpha.
During the operation, police discovered links between the arrested individuals and Lavish Chaudhury, a Dubai-based scamster who is already accused in a ₹500-crore cryptocurrency scam in Himachal Pradesh.
Evidence of their connection was found in a pass recovered from a crypto promotional event at Greenwood Resort, Guwahati, where Chaudhury allegedly hosted a meeting.
Initial investigations suggest the scam operated as a pyramid scheme, where investors were encouraged to onboard more people, creating an extensive network of over 1 lakh downline members.
An image of the seized items from the duo. (AT Photo)
The police also seized five mobile phones, three laptops, an ATM swipe machine, 11 ATM cards, five bank passbooks, and seven cheque books linked to multiple bank accounts, from their possession.
Police estimate the total fraud amount to be over ₹200 crore, with funds siphoned to foreign countries, including Dubai, via cryptocurrency transactions.
The accused allegedly operated multiple fraudulent websites hosted in the USA and Germany, which are now under investigation.
The scam came to light after a flood of complaints from investors who had stopped receiving promised returns in recent months.
This is the second major crypto-related scam busted by South Salmara Mankachar Police in just one week.
A similar MLM fraud was exposed two days ago, highlighting how such deceptive networks are rapidly spreading across lower Assam districts like Dhubri and South Salmara Mankachar.
Police believe that low awareness about cryptocurrency and the pull of quick profits are making economically weaker regions easy targets for such scams.
The Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs is assisting in the probe. Authorities are working to identify other key players, and further arrests are expected.
An FIR is being registered, and both arrested individuals will be produced before the court. The police have urged the public to stay alert and avoid falling prey to investment schemes that promise unrealistic returns.