📷 Image: Wikimedia Commons / Rehman Abubakr
Crime
Sehore Police Uncover Cyber Fraud Ring Converting ATM Cash to USDT for Transfer to China
✍️ Amar Ujala · Madhya Pradesh
🗓 22 Aug 2026, 07:11 PM
👁 5
Sehore police have busted a cyber fraud network that withdrew cash from ATMs, converted it into USDT cryptocurrency and routed the funds to a Chinese recipient. Five suspects were arrested while one remains at large.
Sehore police in Madhya Pradesh announced the dismantling of a sophisticated cyber fraud operation that siphoned cash from automated teller machines and transformed it into the stablecoin USDT. The investigators traced a series of withdrawals that were quickly moved into digital wallets before being transferred abroad.
The financial trail led to a network that used cryptocurrency exchanges to convert the rupee cash into USDT, a token pegged to the US dollar, and subsequently sent the digital assets to a recipient in China. Authorities said the scheme exploited the anonymity of crypto platforms to evade detection.
Law enforcement arrested five individuals believed to be core members of the ring during coordinated raids on multiple locations. A sixth suspect, identified as a key facilitator, remains at large and the police have issued a public notice seeking information on his whereabouts.
The case underscores growing concerns about the misuse of cryptocurrencies for cross‑border money laundering and highlights the need for tighter monitoring of ATM transactions and digital asset flows in India.
The financial trail led to a network that used cryptocurrency exchanges to convert the rupee cash into USDT, a token pegged to the US dollar, and subsequently sent the digital assets to a recipient in China. Authorities said the scheme exploited the anonymity of crypto platforms to evade detection.
Law enforcement arrested five individuals believed to be core members of the ring during coordinated raids on multiple locations. A sixth suspect, identified as a key facilitator, remains at large and the police have issued a public notice seeking information on his whereabouts.
The case underscores growing concerns about the misuse of cryptocurrencies for cross‑border money laundering and highlights the need for tighter monitoring of ATM transactions and digital asset flows in India.