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A special CBI court has denied an Indian student bail after he was remanded in connection to a Rs. 3.81 crore (approximately $457,000) crypto fraud case. According to reports, 23-year-old Shaurya Singh was remanded by the court due to the rampant nature of crypto fraud cases in the country. Over the last few months, the issue of crypto-related fraud and scam cases has been on the rise in India. Criminals are stopping at nothing to ensure they rid unsuspecting victims of their hard-earned funds. These criminal activities are carried out in various methods, including through direct scams, romance scams that turn to investments, and pig-butchering scams, which require people to pay for an investment and bring others before they can recoup their returns from the investment. Indian authorities dock student in connection to crypto fraud case According to authorities, the suspect, Shaurya Singh, is a first-year student studying for his Bachelor of Computer Applications in a school located in Nagapur. The Indian student was arrested in July, after authorities brought him in on charges of assisting another suspect, Sudhir Palande. Authorities claimed that the student had been helping Palande and other accused by transporting what they called “kits.” The kits in this case are things like cheque books, SIM cards, and ATM cards, basically all the tools required to carry out their cybercrime operations. He was also accused of using his bank account to carry out payments for Palande and the others, with most of the payments made for hotels, food, and other things. Singh was also accused of operating a COINCDX account, renting it out to the group. This is also the same account that is being used to pay him for his services. Authorities claimed that the crypto account is connected to his bank account, and he has…

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Filed under: News - @ July 27, 2025 9:25 am